Zacks Investment Research upgraded shares of Sasol Ltd. (NYSE:SSL) from a hold rating to a buy rating in a research note published on Wednesday morning. They currently have $33.00 target price on the oil and gas company’s stock.

According to Zacks, “Sasol Limited is engaged in the mining and processing of coal. It also produces chemicals, explores for and refines crude oil, and manufactures fertilizers and explosives. In addition, it converts coal to petrochemicals products, such as diesel fuels and gasoline. “

Other equities analysts have also recently issued research reports about the stock. BidaskClub upgraded shares of Sasol from a sell rating to a hold rating in a research report on Thursday, August 3rd. Royal Bank Of Canada restated an outperform rating on shares of Sasol in a research report on Thursday, September 7th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $33.00.

Sasol (NYSE:SSL) opened at $30.80 on Wednesday. Sasol has a 52-week low of $25.50 and a 52-week high of $32.40. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.20 and a current ratio of 1.69.

Hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA increased its position in shares of Sasol by 20.7% during the second quarter. BNP Paribas Arbitrage SA now owns 3,737 shares of the oil and gas company’s stock valued at $104,000 after buying an additional 642 shares during the period. Sit Investment Associates Inc. increased its position in shares of Sasol by 20.5% during the second quarter. Sit Investment Associates Inc. now owns 5,000 shares of the oil and gas company’s stock valued at $140,000 after buying an additional 850 shares during the period. Advisor Group Inc. increased its position in shares of Sasol by 79.9% during the third quarter. Advisor Group Inc. now owns 7,074 shares of the oil and gas company’s stock valued at $195,000 after buying an additional 3,142 shares during the period. Checchi Capital Advisers LLC purchased a new position in shares of Sasol during the third quarter valued at about $207,000. Finally, Jane Street Group LLC purchased a new position in shares of Sasol during the third quarter valued at about $219,000. Hedge funds and other institutional investors own 1.89% of the company’s stock.

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Sasol Company Profile

Sasol Limited is an international integrated chemicals and energy company. The Company develops and commercializes technologies, and builds and operates facilities to produce a range of product streams, including liquid fuels, chemicals and low-carbon electricity. The Company’s operating business units include Mining and, Exploration and Production International.

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