Sasol (NYSE:SSL) Rating Lowered to Strong Sell at Zacks Research

Sasol (NYSE:SSL) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday,Zacks.com reports.

A number of other equities research analysts also recently commented on the stock. UBS Group upgraded shares of Sasol from a “neutral” rating to a “buy” rating in a research report on Thursday, June 4th. Weiss Ratings cut Sasol from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, June 25th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Sasol in a research report on Monday, June 15th. Investec began coverage on Sasol in a research note on Wednesday, June 17th. They set a “sell” rating for the company. Finally, Wall Street Zen cut Sasol from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 20th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce”.

Sasol Trading Up 0.0%

Shares of NYSE:SSL opened at $10.33 on Wednesday. The firm’s 50-day simple moving average is $12.15 and its 200-day simple moving average is $10.33. 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 fifty-two week low of $4.77 and a fifty-two week high of $14.36.

Insider Activity at Sasol

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. lifted its position 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 valued at $13,563,000 after acquiring an additional 762,796 shares during the period. Basecamp Wealth Advisors LLC boosted its stake in shares of Sasol by 349.2% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 12,601 shares of the oil and gas company’s stock worth $163,000 after acquiring an additional 9,796 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Sasol by 4.6% during the 1st quarter. Parallel Advisors LLC now owns 20,894 shares of the oil and gas company’s stock worth $271,000 after acquiring an additional 915 shares in the last quarter. Arkadios Wealth Advisors acquired a new stake in shares of Sasol in the 1st quarter worth approximately $228,000. Finally, Quantinno Capital Management LP grew its holdings in shares of Sasol by 40.6% in the 1st quarter. Quantinno Capital Management LP now owns 166,465 shares of the oil and gas company’s stock worth $2,157,000 after acquiring an additional 48,086 shares during the period. 1.21% of the stock is owned by hedge funds and other institutional investors.

Sasol Company Profile

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.