Sasol (NYSE:SSL) Stock Moved Up to “Strong-Buy” by Zacks Research

Zacks Research upgraded shares of Sasol (NYSE:SSL) from a hold rating to a strong-buy rating in a report released on Monday morning,Zacks reports.

Other analysts have also issued reports about the stock. Wall Street Zen upgraded shares of Sasol from a “hold” rating to a “strong-buy” rating in a research report on Saturday, September 5th. Bank of America upgraded Sasol from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 9th. Finally, Weiss Ratings raised Sasol from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Sasol has a consensus rating of “Hold”.

Sasol Price Performance

Shares of NYSE SSL opened at $13.91 on Monday. Sasol has a 52 week low of $5.97 and a 52 week high of $18.19. The company’s 50-day moving average price is $14.88 and its 200 day moving average price is $12.11. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.79 and a quick ratio of 1.17.

Sasol (NYSE:SSL) last posted its earnings results on Friday, August 14th. The oil and gas company reported $0.56 earnings per share for the quarter. The business had revenue of $4.61 billion for the quarter. As a group, sell-side analysts expect that Sasol will post 2.99 EPS for the current fiscal year.

Insider Activity

In other news, CFO Walt Bruns sold 1,798 shares of Sasol stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $14.14, for a total transaction of $25,423.72. Following the completion of the sale, the chief financial officer directly owned 54,819 shares in the company, valued at $775,140.66. The trade was a 3.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Sandile Lawrence Siyaya sold 2,842 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $12.70, for a total transaction of $36,093.40. Following the completion of the transaction, the executive vice president directly owned 301 shares of the company’s stock, valued at approximately $3,822.70. This represents a 90.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 60,412 shares of company stock valued at $800,983 over the last quarter. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of Sasol

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. lifted its stake in shares of Sasol by 123.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,381,209 shares of the oil and gas company’s stock worth $13,563,000 after purchasing an additional 762,796 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Sasol by 3.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 796,208 shares of the oil and gas company’s stock worth $10,319,000 after purchasing an additional 23,994 shares during the last quarter. Pictet Asset Management Holding SA purchased a new stake in shares of Sasol in the third quarter valued at $9,179,000. Quantinno Capital Management LP grew its position in shares of Sasol by 40.6% in the first quarter. Quantinno Capital Management LP now owns 166,465 shares of the oil and gas company’s stock valued at $2,157,000 after purchasing an additional 48,086 shares during the period. Finally, Ritholtz Wealth Management grew its position in shares of Sasol by 72.0% in the third quarter. Ritholtz Wealth Management now owns 165,029 shares of the oil and gas company’s stock valued at $2,281,000 after purchasing an additional 69,090 shares during the period. 1.21% of the stock is owned by hedge funds and other institutional investors.

Sasol Company Profile

Sasol is an integrated energy and chemicals company headquartered in South Africa. Founded in 1950, it developed expertise in converting coal and natural gas into liquid fuels and chemical products, including through Fischer-Tropsch technology. The company produces and markets fuels, such as gasoline, diesel and aviation fuel, as well as a broad range of chemicals used in industries including manufacturing, agriculture and consumer goods. Its activities span energy and chemicals value chains, from feedstock processing to product marketing.