Sasol (NYSE:SSL) Downgraded by Wall Street Zen to Buy

Sasol (NYSE:SSL) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Monday.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Sasol in a report on Friday, January 16th. Zacks Research upgraded shares of Sasol from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 22nd. Weiss Ratings restated a “sell (d+)” rating on shares of Sasol in a research note on Wednesday, January 21st. Finally, The Goldman Sachs Group cut Sasol from a “buy” rating to a “neutral” rating in a research report on Monday, February 9th. Three research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

Sasol Stock Up 3.6%

SSL stock opened at $7.96 on Monday. The stock’s 50 day simple moving average is $6.75 and its 200 day simple moving average is $6.44. Sasol has a 12-month low of $2.78 and a 12-month high of $8.13. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.87 and a quick ratio of 1.27.

Hedge Funds Weigh In On Sasol

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SSL. Laird Norton Wetherby Wealth Management LLC increased its position in Sasol by 5.1% in the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 32,723 shares of the oil and gas company’s stock valued at $204,000 after acquiring an additional 1,593 shares during the period. Ballentine Partners LLC grew its stake in shares of Sasol by 8.9% in the third quarter. Ballentine Partners LLC now owns 21,317 shares of the oil and gas company’s stock worth $133,000 after purchasing an additional 1,745 shares in the last quarter. PDS Planning Inc increased its holdings in shares of Sasol by 15.3% during the fourth quarter. PDS Planning Inc now owns 14,269 shares of the oil and gas company’s stock valued at $93,000 after purchasing an additional 1,893 shares during the period. Integrated Wealth Concepts LLC raised its stake in shares of Sasol by 3.9% during the third quarter. Integrated Wealth Concepts LLC now owns 62,848 shares of the oil and gas company’s stock valued at $391,000 after purchasing an additional 2,334 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in Sasol by 11.5% in the third quarter. US Bancorp DE now owns 26,354 shares of the oil and gas company’s stock worth $164,000 after purchasing an additional 2,719 shares during the period. 1.21% of the stock is owned by institutional investors.

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.