Sasol (NYSE:SSL) Rating Increased to Strong-Buy at Wall Street Zen

Sasol (NYSE:SSL) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Friday.

SSL has been the subject of several other reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sasol in a report on Wednesday. JPMorgan Chase & Co. restated an “underweight” rating on shares of Sasol in a research note on Friday, January 16th. Finally, Zacks Research cut Sasol from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 25th. Two equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Strong Sell”.

Sasol Stock Up 6.2%

Shares of SSL stock opened at $7.49 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.87 and a debt-to-equity ratio of 0.66. Sasol has a 52-week low of $2.78 and a 52-week high of $7.54. The company has a 50-day simple moving average of $6.54 and a two-hundred day simple moving average of $6.20.

Institutional Trading of Sasol

A number of institutional investors have recently modified their holdings of SSL. Millennium Management LLC boosted its holdings in Sasol by 75.7% in the 1st quarter. Millennium Management LLC now owns 1,450,355 shares of the oil and gas company’s stock worth $6,135,000 after buying an additional 624,911 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Sasol by 1,627.3% in the third quarter. JPMorgan Chase & Co. now owns 1,025,934 shares of the oil and gas company’s stock worth $6,381,000 after acquiring an additional 966,539 shares during the period. American Century Companies Inc. boosted its holdings in shares of Sasol by 25.5% in the second quarter. American Century Companies Inc. now owns 890,502 shares of the oil and gas company’s stock worth $3,936,000 after acquiring an additional 180,827 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Sasol by 11.9% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 767,312 shares of the oil and gas company’s stock valued at $3,392,000 after purchasing an additional 81,769 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Sasol by 206.2% during the 2nd quarter. Bank of America Corp DE now owns 537,250 shares of the oil and gas company’s stock valued at $2,375,000 after purchasing an additional 361,777 shares during the period. 1.21% of the stock is currently 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.