Sasol (NYSE:SSL – Get Free Report) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday, Zacks reports.
A number of other equities research analysts have also commented on SSL. UBS Group raised shares of Sasol from a “neutral” rating to a “buy” rating in a research note on Thursday, June 4th. Investec began coverage on shares of Sasol in a research note on Wednesday, June 17th. They set a “sell” rating for the company. JPMorgan Chase & Co. restated a “neutral” rating on shares of Sasol in a report on Monday, June 15th. Weiss Ratings cut shares of Sasol from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. Finally, Wall Street Zen downgraded Sasol from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Sasol presently has an average rating of “Reduce”.
Read Our Latest Analysis on SSL
Sasol Stock Up 3.6%
Sasol (NYSE:SSL – Get Free Report) last announced its earnings results on Friday, August 14th. The oil and gas company reported $0.56 EPS for the quarter. The company had revenue of $4.61 billion during the quarter. Equities research analysts anticipate that Sasol will post 2.56 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC raised its holdings 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 valued at $6,135,000 after purchasing an additional 624,911 shares during the period. Assenagon Asset Management S.A. raised its stake in 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 buying an additional 762,796 shares during the period. JPMorgan Chase & Co. boosted its holdings 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 worth $6,381,000 after acquiring an additional 966,539 shares in the last quarter. Pictet Asset Management Holding SA bought a new position in Sasol in the first quarter worth approximately $11,284,000. Finally, UBS Group AG grew its stake in Sasol by 52.0% in the fourth quarter. UBS Group AG now owns 835,052 shares of the oil and gas company’s stock valued at $5,436,000 after acquiring an additional 285,807 shares during the period. 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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