Sasol (NYSE:SSL) Stock Rating Lowered by Zacks Research

Sasol (NYSE:SSL) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Several other analysts also recently issued reports on SSL. Wall Street Zen raised shares of Sasol from a “hold” rating to a “buy” rating in a research report on Saturday, March 14th. UBS Group downgraded shares of Sasol from a “buy” rating to a “neutral” rating in a research report on Thursday, March 5th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sasol in a research report on Wednesday, January 21st. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Sasol in a research report on Friday, January 16th. Finally, The Goldman Sachs Group downgraded shares of Sasol from a “buy” rating to a “neutral” rating in a research report on Monday, February 9th. Four research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Sasol has an average rating of “Reduce”.

Sasol Price Performance

NYSE:SSL traded down $1.59 during trading hours on Monday, hitting $12.02. The stock had a trading volume of 1,136,868 shares, compared to its average volume of 2,561,972. The company has a quick ratio of 1.09, a current ratio of 1.66 and a debt-to-equity ratio of 0.53. Sasol has a 1-year low of $2.78 and a 1-year high of $13.68. The business has a 50 day simple moving average of $9.75 and a two-hundred day simple moving average of $7.58.

Hedge Funds Weigh In On Sasol

A number of hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC boosted its holdings in Sasol by 75.7% in the first quarter. Millennium Management LLC now owns 1,450,355 shares of the oil and gas company’s stock worth $6,135,000 after purchasing an additional 624,911 shares during the period. JPMorgan Chase & Co. boosted its holdings in Sasol by 1,627.3% in the third quarter. JPMorgan Chase & Co. now owns 1,025,934 shares of the oil and gas company’s stock worth $6,381,000 after purchasing an additional 966,539 shares during the period. UBS Group AG boosted its holdings in Sasol by 52.0% in the fourth quarter. UBS Group AG now owns 835,052 shares of the oil and gas company’s stock worth $5,436,000 after purchasing an additional 285,807 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Sasol by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 680,048 shares of the oil and gas company’s stock worth $4,426,000 after purchasing an additional 6,109 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in Sasol by 12.9% in the fourth quarter. Renaissance Technologies LLC now owns 583,900 shares of the oil and gas company’s stock valued at $3,801,000 after buying an additional 66,900 shares during the last quarter. Institutional investors and hedge funds own 1.21% of the company’s stock.

About Sasol

Sasol Limited is an integrated energy and chemical company headquartered in Johannesburg, South Africa. The company’s core operations encompass the conversion of natural gas, coal and heavy hydrocarbons into liquid fuels and a wide array of chemical products. Sasol leverages proprietary Fischer-Tropsch and gas-to-liquids (GTL) technologies to deliver cleaner-burning diesel, jet fuel and naphtha, alongside solvents, surfactants and specialty polymers for industrial and consumer applications.

In addition to its GTL business, Sasol operates downstream facilities for the manufacture of alpha olefins, ethylene, propylene and other base-chemical intermediates.