Sasol (NYSE:SSL – Get Free Report) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Wednesday,Zacks.com reports.
SSL has been the subject of several other reports. UBS Group raised Sasol from a “neutral” rating to a “buy” rating in a research note on Thursday, June 4th. Investec began coverage on Sasol in a research note on Wednesday, June 17th. They set a “sell” rating on the stock. Wall Street Zen downgraded Sasol from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 20th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Sasol in a research report on Monday, June 15th. Finally, Weiss Ratings cut shares of Sasol from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, June 25th. 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 company’s stock. Based on data from MarketBeat, Sasol presently has an average rating of “Reduce”.
View Our Latest Stock Report on SSL
Sasol Price Performance
Insider Buying and Selling
In related news, EVP Sarushen Dhanapalan Pillay sold 2,182 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $13.14, for a total value of $28,671.48. Following the transaction, the executive vice president owned 16,313 shares in the company, valued at approximately $214,352.82. This represents a 11.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.00% of the company’s stock.
Institutional Trading of Sasol
Several large investors have recently added to or reduced their stakes in SSL. Assenagon Asset Management S.A. increased its stake in shares of Sasol by 123.3% during the 2nd 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. Basecamp Wealth Advisors LLC lifted its stake in shares of Sasol by 349.2% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 12,601 shares of the oil and gas company’s stock valued at $163,000 after purchasing an additional 9,796 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Sasol by 4.6% in the first quarter. Parallel Advisors LLC now owns 20,894 shares of the oil and gas company’s stock worth $271,000 after purchasing an additional 915 shares in the last quarter. Arkadios Wealth Advisors bought a new stake in Sasol in the first quarter worth $228,000. Finally, Quantinno Capital Management LP increased its position in Sasol by 40.6% during the first quarter. Quantinno Capital Management LP now owns 166,465 shares of the oil and gas company’s stock worth $2,157,000 after buying an additional 48,086 shares during the last quarter. 1.21% of the stock is owned by institutional investors.
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.
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