Zacks Research Downgrades Sasol (NYSE:SSL) to Hold

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

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

Sasol Trading Up 9.1%

Shares of NYSE:SSL opened at $13.62 on Monday. The business’s 50 day simple moving average is $9.75 and its two-hundred day simple moving average is $7.58. The company has a current ratio of 1.66, a quick ratio of 1.09 and a debt-to-equity ratio of 0.53. Sasol has a 52-week low of $2.78 and a 52-week high of $13.68.

Hedge Funds Weigh In On Sasol

Large investors have recently added to or reduced their stakes in the business. Atlas Capital Advisors Inc. bought a new position in Sasol in the 4th quarter valued at about $35,000. Caitong International Asset Management Co. Ltd lifted its position 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 valued at $36,000 after acquiring an additional 3,920 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position 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 valued at $40,000 after acquiring an additional 6,957 shares in the last quarter. Sivia Capital Partners LLC bought a new position in Sasol in the 2nd quarter valued at about $52,000. Finally, GAMMA Investing LLC lifted its position in Sasol by 107.9% in the 3rd quarter. GAMMA Investing LLC now owns 8,637 shares of the oil and gas company’s stock valued at $54,000 after acquiring an additional 4,482 shares in 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.