Sasol (NYSE:SSL) Downgraded to Strong Sell Rating by Zacks Research

Zacks Research cut shares of Sasol (NYSE:SSL) from a hold rating to a strong sell rating in a research note published on Wednesday morning,Zacks.com reports.

SSL has been the subject of a number of other research reports. Weiss Ratings downgraded shares of Sasol from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, June 25th. UBS Group upgraded shares of Sasol from a “neutral” rating to a “buy” rating in a report on Thursday, June 4th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Sasol in a research report on Monday, June 15th. Investec assumed coverage on Sasol in a report on Wednesday, June 17th. They issued a “sell” rating on the stock. Finally, Wall Street Zen cut Sasol from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 20th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Sasol presently has a consensus rating of “Reduce”.

Sasol Stock Up 0.0%

Shares of Sasol stock opened at $10.33 on Wednesday. The business has a 50-day simple moving average of $12.15 and a 200-day simple moving average of $10.33. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.66 and a quick ratio of 1.09. Sasol has a one year low of $4.77 and a one year high of $14.36.

Insiders Place Their Bets

In other news, EVP Sarushen Dhanapalan Pillay sold 2,182 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $13.14, for a total transaction of $28,671.48. Following the completion of the sale, the executive vice president owned 16,313 shares in the company, valued at approximately $214,352.82. The trade was a 11.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Sasol

Several hedge funds and other institutional investors have recently bought and sold shares of SSL. JPMorgan Chase & Co. lifted its position in Sasol by 1,627.3% in the third quarter. JPMorgan Chase & Co. now owns 1,025,934 shares of the oil and gas company’s stock valued at $6,381,000 after acquiring an additional 966,539 shares during the last quarter. Pictet Asset Management Holding SA purchased a new position in shares of Sasol during the first quarter worth about $11,284,000. Assenagon Asset Management S.A. grew its holdings in shares of 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 last quarter. Millennium Management LLC increased its position in shares of Sasol by 75.7% during 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 acquired a new stake in shares of Sasol during the third quarter worth about $3,079,000. 1.21% of the stock is currently owned by institutional investors and hedge funds.

Sasol Company Profile

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.