Credit Suisse Group AG Initiates Coverage on Sasol Ltd. (SSL)
Research analysts at Credit Suisse Group AG started coverage on shares of Sasol Ltd. (NYSE:SSL) in a research note issued to investors on Monday. The brokerage set an “outperform” rating on the stock.
Other equities analysts have also issued reports about the company. Citigroup Inc. raised Sasol from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 14th. Bank of America Corp. raised Sasol from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 16th. Morgan Stanley raised Sasol from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, August 10th. Finally, Zacks Investment Research lowered Sasol from a “hold” rating to a “sell” rating in a research note on Tuesday, May 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. Sasol presently has a consensus rating of “Buy” and a consensus target price of $35.00.
Shares of Sasol (NYSE:SSL) opened at 26.1839 on Monday. The company has a market capitalization of $16.90 billion, a price-to-earnings ratio of 16.8385 and a beta of 1.16. Sasol has a 52-week low of $21.07 and a 52-week high of $34.73. The company’s 50 day moving average price is $26.83 and its 200 day moving average price is $28.38.
The firm also recently declared a semiannual dividend, which will be paid on Thursday, October 13th. Stockholders of record on Friday, September 30th will be issued a $0.521 dividend. This represents a dividend yield of 4.77%. This is an increase from Sasol’s previous semiannual dividend of $0.30. The ex-dividend date is Wednesday, September 28th.
Several large investors have recently modified their holdings of SSL. Orbis Allan Gray Ltd acquired a new stake in shares of Sasol during the first quarter valued at $1,692,944,000. Ameriprise Financial Inc. increased its stake in shares of Sasol by 25.6% in the second quarter. Ameriprise Financial Inc. now owns 1,569,715 shares of the company’s stock valued at $42,571,000 after buying an additional 319,609 shares during the last quarter. Brown Capital Management LLC increased its stake in shares of Sasol by 7.4% in the second quarter. Brown Capital Management LLC now owns 521,853 shares of the company’s stock valued at $14,153,000 after buying an additional 36,031 shares during the last quarter. State Street Corp increased its stake in shares of Sasol by 23.4% in the second quarter. State Street Corp now owns 445,001 shares of the company’s stock valued at $12,069,000 after buying an additional 84,492 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its stake in shares of Sasol by 5.0% in the second quarter. O Shaughnessy Asset Management LLC now owns 189,128 shares of the company’s stock valued at $5,129,000 after buying an additional 8,988 shares during the last quarter. Hedge funds and other institutional investors own 4.53% of the company’s stock.
Sasol Limited (Sasol) is a holding company. The Company is an integrated energy and chemicals company that develops and commercializes technologies, builds and operates facilities to produce a range of product streams, including liquid fuels, high-value chemicals and low-carbon electricity. The Company operates through six segments: Mining, Exploration and Production International, Energy, Base Chemicals, Performance Chemicals and Other.
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