Sasol (NYSE:SSL) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Sasol (NYSE:SSL) from a strong sell rating to a hold rating in a report published on Thursday morning,Zacks.com reports.

Several other brokerages also recently issued reports on SSL. JPMorgan Chase & Co. reissued 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 report on Wednesday. Finally, Wall Street Zen upgraded Sasol from a “buy” rating to a “strong-buy” rating in a report on Friday. Three analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce”.

Sasol Stock Performance

Shares of SSL stock opened at $7.49 on Thursday. The company has a quick ratio of 1.27, a current ratio of 1.87 and a debt-to-equity ratio of 0.66. The stock’s fifty day simple moving average is $6.54 and its 200 day simple moving average is $6.20. Sasol has a one year low of $2.78 and a one year high of $7.54.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Laird Norton Wetherby Wealth Management LLC lifted its position in Sasol by 5.1% in the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 32,723 shares of the oil and gas company’s stock valued at $204,000 after acquiring an additional 1,593 shares in the last quarter. Ballentine Partners LLC lifted its stake in Sasol by 8.9% in the 3rd quarter. Ballentine Partners LLC now owns 21,317 shares of the oil and gas company’s stock valued at $133,000 after acquiring an additional 1,745 shares in the last quarter. QRG Capital Management Inc. grew its stake in shares of Sasol by 11.3% during the 2nd quarter. QRG Capital Management Inc. now owns 22,781 shares of the oil and gas company’s stock worth $101,000 after acquiring an additional 2,318 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of Sasol by 3.9% in the third quarter. Integrated Wealth Concepts LLC now owns 62,848 shares of the oil and gas company’s stock valued at $391,000 after purchasing an additional 2,334 shares during the last quarter. Finally, US Bancorp DE lifted its position in shares of Sasol by 11.5% in the third quarter. US Bancorp DE now owns 26,354 shares of the oil and gas company’s stock worth $164,000 after purchasing an additional 2,719 shares in the last quarter. Institutional investors and hedge funds own 1.21% of the company’s stock.

About Sasol

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.