Sasol (NYSE:SSL) Cut to “Buy” at Wall Street Zen

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

Several other research firms also recently commented on SSL. Weiss Ratings reissued a “sell (d+)” rating on shares of Sasol in a research note on Wednesday, January 21st. Zacks Research raised shares of Sasol from a “strong sell” rating to a “hold” rating in a report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Sasol in a research report on Friday, January 16th. Three investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Sasol Trading Down 4.7%

NYSE:SSL opened at $7.13 on Friday. The business has a 50 day moving average of $6.56 and a 200 day moving average of $6.28. Sasol has a 1-year low of $2.78 and a 1-year high of $7.66. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.27 and a current ratio of 1.87.

Hedge Funds Weigh In On Sasol

A number of hedge funds have recently modified their holdings of the company. GAMMA Investing LLC raised its stake 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 valued at $54,000 after acquiring an additional 4,482 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Sasol by 347.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,960 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 6,957 shares during the period. Brevan Howard Capital Management LP bought a new position in Sasol during the 3rd quarter valued at approximately $63,000. Centiva Capital LP purchased a new stake in Sasol in the 3rd quarter worth approximately $67,000. Finally, Sivia Capital Partners LLC purchased a new stake in Sasol in the 2nd quarter worth approximately $52,000. Hedge funds and other institutional investors 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.