Sasol’s (SSL) “Underweight” Rating Reaffirmed at JPMorgan Chase & Co.

JPMorgan Chase & Co. reaffirmed their underweight rating on shares of Sasol (NYSE:SSL) in a research report released on Friday morning, MarketBeat Ratings reports.

Several other research firms also recently issued reports on SSL. Zacks Research downgraded shares of Sasol from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 25th. Weiss Ratings restated a “sell (d+)” rating on shares of Sasol in a research note on Wednesday, October 8th. Wall Street Zen lowered Sasol from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 15th. Finally, Morgan Stanley lowered Sasol from an “overweight” rating to an “equal weight” rating in a research report on Monday, September 22nd. Two research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Sasol has an average rating of “Strong Sell”.

Sasol Stock Performance

Shares of SSL opened at $6.32 on Friday. Sasol has a fifty-two week low of $2.78 and a fifty-two week high of $7.54. The company has a current ratio of 1.87, a quick ratio of 1.27 and a debt-to-equity ratio of 0.66. The business’s 50-day moving average is $6.56 and its 200-day moving average is $6.14.

Hedge Funds Weigh In On Sasol

Several hedge funds have recently added to or reduced their stakes in SSL. EverSource Wealth Advisors LLC boosted its holdings in shares of Sasol by 347.3% in the second quarter. EverSource Wealth Advisors LLC now owns 8,960 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 6,957 shares during the period. Sivia Capital Partners LLC acquired a new stake in Sasol during the second quarter worth approximately $52,000. GAMMA Investing LLC boosted its holdings in shares of Sasol by 107.9% during the third quarter. GAMMA Investing LLC now owns 8,637 shares of the oil and gas company’s stock worth $54,000 after acquiring an additional 4,482 shares during the period. Brevan Howard Capital Management LP bought a new position in shares of Sasol during the third quarter worth approximately $63,000. Finally, Centiva Capital LP acquired a new stake in Sasol during the 3rd quarter worth approximately $67,000. Institutional investors and hedge funds 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.