Sasol (NYSE:SSL) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of Sasol (NYSE:SSL) from a buy rating to a hold rating in a report issued on Saturday morning.

A number of other equities research analysts also recently issued reports on SSL. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Sasol in a report on Monday, June 15th. UBS Group upgraded Sasol from a “neutral” rating to a “buy” rating in a report on Thursday, June 4th. Investec started coverage on shares of Sasol in a research note on Wednesday, June 17th. They issued a “sell” rating for the company. Weiss Ratings cut Sasol from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, July 28th. Finally, Zacks Research cut shares of Sasol from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce”.

Sasol Stock Up 2.9%

Shares of SSL stock opened at $11.52 on Friday. Sasol has a 12 month low of $5.24 and a 12 month high of $14.36. The firm’s 50 day moving average is $11.14 and its 200 day moving average is $11.15. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.09 and a current ratio of 1.66.

Hedge Funds Weigh In On Sasol

Several hedge funds have recently made changes to their positions in the business. Millennium Management LLC increased its position in Sasol by 75.7% during the 1st quarter. Millennium Management LLC now owns 1,450,355 shares of the oil and gas company’s stock valued at $6,135,000 after purchasing an additional 624,911 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Sasol by 123.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,381,209 shares of the oil and gas company’s stock worth $13,563,000 after purchasing an additional 762,796 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Sasol by 1,627.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,025,934 shares of the oil and gas company’s stock valued at $6,381,000 after purchasing an additional 966,539 shares in the last quarter. Pictet Asset Management Holding SA bought a new stake in shares of Sasol during the 1st quarter valued at about $11,284,000. Finally, UBS Group AG increased its position in shares of Sasol by 52.0% during the fourth quarter. UBS Group AG now owns 835,052 shares of the oil and gas company’s stock valued at $5,436,000 after buying an additional 285,807 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.