Sasol (NYSE:SSL) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Sasol (NYSE:SSL) from a buy rating to a hold rating in a research note published on Saturday morning.

A number of other research firms have also recently issued reports on SSL. JPMorgan Chase & Co. restated an “underweight” rating on shares of Sasol in a research report on Friday, January 16th. Weiss Ratings reissued a “sell (d+)” rating on shares of Sasol in a report on Wednesday, January 21st. The Goldman Sachs Group cut shares of Sasol from a “buy” rating to a “neutral” rating in a research note on Monday, February 9th. Finally, Zacks Research raised Sasol from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold”.

Sasol Stock Performance

NYSE SSL opened at $8.91 on Friday. Sasol has a twelve month low of $2.78 and a twelve month high of $9.35. The firm has a 50-day simple moving average of $7.26 and a 200 day simple moving average of $6.70. The company has a current ratio of 1.66, a quick ratio of 1.09 and a debt-to-equity ratio of 0.53.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SSL. SG Americas Securities LLC lifted its stake in shares of Sasol by 240.6% during the third quarter. SG Americas Securities LLC now owns 261,467 shares of the oil and gas company’s stock valued at $1,626,000 after acquiring an additional 184,704 shares during the period. ABC Arbitrage SA acquired a new position in Sasol in the second quarter valued at approximately $833,000. Creative Planning boosted its stake in Sasol by 157.0% in the second quarter. Creative Planning now owns 246,324 shares of the oil and gas company’s stock valued at $1,089,000 after acquiring an additional 150,491 shares during the last quarter. American Century Companies Inc. grew its holdings in Sasol by 25.5% during the 2nd quarter. American Century Companies Inc. now owns 890,502 shares of the oil and gas company’s stock worth $3,936,000 after acquiring an additional 180,827 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Sasol by 11.9% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 767,312 shares of the oil and gas company’s stock valued at $3,392,000 after acquiring an additional 81,769 shares during the last quarter. Institutional investors own 1.21% of the company’s stock.

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.