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

Sasol (NYSE:SSL) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

A number of other equities analysts have also issued reports on SSL. UBS Group upgraded shares of Sasol from a “neutral” rating to a “buy” rating in a research report on Thursday, June 4th. Weiss Ratings upgraded shares of Sasol from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. The Goldman Sachs Group cut shares of Sasol from a “buy” rating to a “neutral” rating in a research note on Monday, February 9th. Finally, Wall Street Zen raised shares of Sasol from a “buy” rating to a “strong-buy” rating in a research report on Saturday. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Sasol Trading Up 0.8%

NYSE:SSL opened at $13.55 on Monday. Sasol has a 52-week low of $4.30 and a 52-week high of $14.36. The stock’s 50 day moving average price is $13.03 and its 200 day moving average price is $9.64. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.09 and a current ratio of 1.66.

Insider Activity at Sasol

In other news, EVP Sarushen Dhanapalan Pillay sold 2,182 shares of Sasol stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $13.14, for a total value of $28,671.48. Following the sale, the executive vice president owned 16,313 shares of the company’s stock, valued at $214,352.82. The trade was a 11.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Sasol

Several institutional investors and hedge funds have recently added to or reduced their stakes in SSL. Atlas Capital Advisors Inc. acquired a new stake in Sasol in the fourth quarter valued at $35,000. Caitong International Asset Management Co. Ltd grew its position in Sasol by 232.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,606 shares of the oil and gas company’s stock worth $36,000 after buying an additional 3,920 shares during the period. EverSource Wealth Advisors LLC grew its position in Sasol by 347.3% during the second quarter. EverSource Wealth Advisors LLC now owns 8,960 shares of the oil and gas company’s stock worth $40,000 after buying an additional 6,957 shares during the period. Sivia Capital Partners LLC purchased a new position in Sasol in the second quarter valued at about $52,000. Finally, Brevan Howard Capital Management LP acquired a new stake in shares of Sasol during the 3rd quarter valued at approximately $63,000. 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.