JPMorgan Chase & Co. Reiterates Neutral Rating for Sasol (NYSE:SSL)

Sasol (NYSE:SSL)‘s stock had its “neutral” rating reaffirmed by equities research analysts at JPMorgan Chase & Co. in a research note issued on Monday,Benzinga reports.

A number of other brokerages have also recently weighed in on SSL. Wall Street Zen upgraded shares of Sasol from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 6th. UBS Group upgraded shares of Sasol from a “neutral” rating to a “buy” rating in a report on Thursday, June 4th. Zacks Research cut shares of Sasol from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Finally, Weiss Ratings upgraded shares of Sasol from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 18th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Sasol Price Performance

SSL traded down $1.66 on Monday, hitting $11.35. The company had a trading volume of 1,118,555 shares, compared to its average volume of 2,222,873. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.09 and a current ratio of 1.66. Sasol has a 52-week low of $4.30 and a 52-week high of $14.36. The stock has a fifty day simple moving average of $13.06 and a 200-day simple moving average of $9.78.

Insider Activity

In other news, EVP Sarushen Dhanapalan Pillay sold 2,182 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $13.14, for a total transaction of $28,671.48. Following the completion of the sale, the executive vice president owned 16,313 shares of the company’s stock, valued at $214,352.82. The trade was a 11.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Sasol

Several institutional investors and hedge funds have recently modified their holdings of SSL. Atlas Capital Advisors Inc. bought a new stake in shares of Sasol during the 4th quarter valued at $35,000. Caitong International Asset Management Co. Ltd boosted its stake in Sasol by 232.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,606 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 3,920 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Sasol by 347.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,960 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 6,957 shares during the period. Sivia Capital Partners LLC bought a new position in Sasol in the 2nd quarter worth approximately $52,000. Finally, Brevan Howard Capital Management LP bought a new stake in Sasol in the 3rd quarter valued at $63,000. 1.21% of the stock is currently owned by institutional investors.

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.