Sasol (NYSE:SSL) Cut to Hold at Zacks Research

Zacks Research downgraded shares of Sasol (NYSE:SSL) from a strong-buy rating to a hold rating in a research report sent to investors on Monday morning,Zacks.com reports.

Several other equities research analysts have also recently commented on SSL. Weiss Ratings reiterated a “sell (d+)” rating on shares of Sasol in a research report on Wednesday, January 21st. UBS Group cut shares of Sasol from a “buy” rating to a “neutral” rating in a research report on Thursday, March 5th. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Sasol in a research report on Friday, January 16th. Wall Street Zen upgraded shares of Sasol from a “hold” rating to a “buy” rating in a research report on Saturday, March 14th. Finally, The Goldman Sachs Group cut shares of Sasol from a “buy” rating to a “neutral” rating in a research report on Monday, February 9th. Four investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

Sasol Trading Down 8.3%

Shares of NYSE:SSL opened at $12.47 on Monday. Sasol has a one year low of $2.78 and a one year high of $13.68. The company has a 50 day moving average of $9.85 and a 200-day moving average of $7.62. The company has a current ratio of 1.66, a quick ratio of 1.09 and a debt-to-equity ratio of 0.53.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Corient Private Wealth LLC boosted its holdings in Sasol by 13.1% during the fourth quarter. Corient Private Wealth LLC now owns 30,526 shares of the oil and gas company’s stock worth $199,000 after purchasing an additional 3,537 shares during the last quarter. DGS Capital Management LLC acquired a new position in Sasol during the fourth quarter worth $71,000. Compound Planning Inc. acquired a new position in Sasol during the fourth quarter worth $67,000. EP Wealth Advisors LLC acquired a new position in Sasol during the fourth quarter worth $66,000. Finally, XTX Topco Ltd boosted its holdings in Sasol by 202.7% during the fourth quarter. XTX Topco Ltd now owns 61,490 shares of the oil and gas company’s stock worth $400,000 after purchasing an additional 41,174 shares during 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.