Sasol (SSL) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Sasol (NYSE:SSL) from a hold rating to a sell rating in a report published on Saturday.

According to Zacks, “Sasol Limited is engaged in the mining and processing of coal. It also produces chemicals, explores for and refines crude oil, and manufactures fertilizers and explosives. In addition, it converts coal to petrochemicals products, such as diesel fuels and gasoline. “

Several other equities analysts also recently weighed in on the stock. Macquarie upgraded shares of Sasol from a neutral rating to an outperform rating in a report on Thursday, April 26th. ValuEngine upgraded shares of Sasol from a hold rating to a buy rating in a report on Saturday, April 7th. UBS upgraded shares of Sasol from a sell rating to a neutral rating in a report on Wednesday, April 4th. Citigroup upgraded shares of Sasol from a neutral rating to a buy rating in a report on Wednesday, February 28th. Finally, JPMorgan Chase upgraded shares of Sasol from a neutral rating to an overweight rating in a report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. The stock has an average rating of Buy and an average target price of $34.00.

Shares of NYSE:SSL opened at $35.53 on Friday. Sasol has a twelve month low of $26.92 and a twelve month high of $38.75. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.03 and a current ratio of 1.56. The company has a market capitalization of $23,041.29, a P/E ratio of 13.77, a price-to-earnings-growth ratio of 2.53 and a beta of 0.90.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Gilman Hill Asset Management LLC grew its stake in shares of Sasol by 16.6% during the 4th quarter. Gilman Hill Asset Management LLC now owns 12,705 shares of the oil and gas company’s stock worth $435,000 after purchasing an additional 1,805 shares during the period. Comerica Bank grew its stake in shares of Sasol by 4.5% during the 4th quarter. Comerica Bank now owns 46,389 shares of the oil and gas company’s stock worth $1,702,000 after purchasing an additional 1,977 shares during the period. Greenleaf Trust grew its stake in shares of Sasol by 11.6% during the 4th quarter. Greenleaf Trust now owns 24,041 shares of the oil and gas company’s stock worth $822,000 after purchasing an additional 2,506 shares during the period. Raymond James & Associates grew its stake in shares of Sasol by 14.7% during the 4th quarter. Raymond James & Associates now owns 20,084 shares of the oil and gas company’s stock worth $687,000 after purchasing an additional 2,578 shares during the period. Finally, Guggenheim Capital LLC grew its stake in shares of Sasol by 9.7% during the 4th quarter. Guggenheim Capital LLC now owns 51,297 shares of the oil and gas company’s stock worth $1,755,000 after purchasing an additional 4,517 shares during the period. 2.10% of the stock is currently owned by institutional investors and hedge funds.

Sasol Company Profile

Sasol Limited operates as an integrated chemicals and energy company. It operates through Mining, Exploration and Production International, Energy, Base Chemicals, and Performance Chemicals segments. The company operates coal mines; develops and manages upstream interests in oil and gas exploration and production in Mozambique, South Africa, Australia, Canada, and Gabon; and markets commodity and various performance chemicals, such as organics, inorganics and wax value chains, as well as polymers, solvents, and ammonia-based fertilizers.

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