Zacks Research Upgrades Sasol (NYSE:SSL) to Hold

Sasol (NYSE:SSL) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

SSL has been the subject of several other reports. UBS Group upgraded Sasol from a “neutral” rating to a “buy” rating in a research note on Thursday, June 4th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Sasol in a report on Monday, June 15th. Investec began coverage on shares of Sasol in a research report on Wednesday, June 17th. They set a “sell” rating for the company. Weiss Ratings cut shares of Sasol from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. Finally, Wall Street Zen downgraded shares of Sasol from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce”.

Sasol Stock Up 3.6%

NYSE SSL opened at $12.45 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.66 and a quick ratio of 1.09. The stock’s fifty day moving average price is $11.13 and its 200 day moving average price is $11.57. Sasol has a 1 year low of $5.24 and a 1 year high of $14.36.

Sasol (NYSE:SSL) last issued its earnings results on Friday, August 14th. The oil and gas company reported $0.56 earnings per share (EPS) for the quarter. The firm had revenue of $4.61 billion during the quarter. As a group, analysts anticipate that Sasol will post 2.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Millennium Management LLC lifted 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 valued at $6,135,000 after acquiring an additional 624,911 shares during the period. Jane Street Group LLC boosted its position in Sasol by 31.9% in the 1st quarter. Jane Street Group LLC now owns 154,700 shares of the oil and gas company’s stock worth $654,000 after purchasing an additional 37,412 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Sasol during the 2nd quarter worth approximately $52,000. JPMorgan Chase & Co. increased its holdings in shares of Sasol by 7,082.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 59,395 shares of the oil and gas company’s stock valued at $263,000 after purchasing an additional 58,568 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Sasol by 347.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,960 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 6,957 shares in the last quarter. 1.21% of the stock is currently 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.