Sasol (NYSE:SSL) Stock Rating Lowered by Zacks Investment Research

Sasol (NYSE:SSLGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Saturday, Zacks.com reports.

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. “

SSL has been the topic of a number of other research reports. The Goldman Sachs Group upgraded shares of Sasol from a “neutral” rating to a “buy” rating in a research report on Thursday, March 24th. StockNews.com initiated coverage on shares of Sasol in a research report on Thursday, March 31st. They set a “buy” rating on the stock.

Shares of NYSE:SSL opened at $25.12 on Friday. The company’s 50 day moving average price is $23.59 and its two-hundred day moving average price is $19.91. Sasol has a 12-month low of $12.74 and a 12-month high of $25.90. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.98 and a current ratio of 1.43.

Several institutional investors have recently modified their holdings of SSL. Morgan Stanley lifted its holdings in shares of Sasol by 659.4% during the 2nd quarter. Morgan Stanley now owns 342,695 shares of the oil and gas company’s stock worth $5,253,000 after acquiring an additional 297,569 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Sasol by 245.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 240,471 shares of the oil and gas company’s stock worth $3,944,000 after acquiring an additional 170,941 shares during the period. OLD Mission Capital LLC lifted its stake in Sasol by 54.0% in the 3rd quarter. OLD Mission Capital LLC now owns 314,644 shares of the oil and gas company’s stock valued at $2,391,000 after purchasing an additional 110,344 shares during the last quarter. Jump Financial LLC bought a new position in Sasol in the 3rd quarter valued at approximately $1,469,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Sasol by 1.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,753,099 shares of the oil and gas company’s stock valued at $70,708,000 after purchasing an additional 42,701 shares during the last quarter. 1.50% of the stock is owned by institutional investors.

About Sasol (Get Rating)

Sasol Limited, together with its subsidiaries, operates as an integrated chemical and energy company in South Africa. The company operates through Mining, Gas, Fuels, Chemicals Africa, Chemicals America, and Chemicals Eurasia segments. It operates coal mines; and develops and manages upstream interests in oil and gas exploration and production in Mozambique, South Africa, Canada, and Gabon.

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