Sasol (NYSE:SSL) Stock Rating Upgraded by Wall Street Zen

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

Other equities analysts have also issued research reports about the stock. Weiss Ratings upgraded shares of Sasol from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday. Investec assumed coverage on Sasol in a report on Wednesday, June 17th. They issued a “sell” rating for the company. Zacks Research raised Sasol from a “strong sell” rating to a “hold” rating in a research report on Monday, August 31st. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Sasol in a report on Monday, June 15th. Finally, UBS Group upgraded Sasol from a “neutral” rating to a “buy” rating in a research report on Thursday, June 4th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold”.

Sasol Trading Up 0.2%

Shares of NYSE SSL opened at $12.29 on Friday. The company has a 50 day simple moving average of $11.27 and a 200 day simple moving average of $11.67. The company has a current ratio of 1.79, a quick ratio of 1.17 and a debt-to-equity ratio of 0.49. Sasol has a 1 year low of $5.24 and a 1 year high of $14.36.

Sasol (NYSE:SSL) last posted its earnings results on Friday, August 14th. The oil and gas company reported $0.56 earnings per share for the quarter. The business had revenue of $4.61 billion for the quarter. Equities research analysts anticipate that Sasol will post 1.65 EPS for the current fiscal year.

Institutional Trading of Sasol

Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in Sasol by 1,627.3% during the 3rd 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. Pictet Asset Management Holding SA bought a new stake in shares of Sasol during the 1st quarter valued at about $11,284,000. Assenagon Asset Management S.A. grew its stake in Sasol by 123.3% during the second quarter. Assenagon Asset Management S.A. now owns 1,381,209 shares of the oil and gas company’s stock worth $13,563,000 after purchasing an additional 762,796 shares during the period. Millennium Management LLC increased its holdings in Sasol by 75.7% in the first quarter. Millennium Management LLC now owns 1,450,355 shares of the oil and gas company’s stock worth $6,135,000 after purchasing an additional 624,911 shares in the last quarter. Finally, Voleon Capital Management LP bought a new stake in Sasol in the third quarter worth approximately $3,079,000. 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.