Zacks Investment Research Lowers Sasol Ltd. (SSL) to Sell

Zacks Investment Research downgraded shares of Sasol Ltd. (NYSE:SSL) from a hold rating to a sell rating in a research report report published on Friday, September 8th.

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 brokerages have also recently commented on SSL. BidaskClub upgraded shares of Sasol from a sell rating to a hold rating in a research note on Tuesday, June 27th. J P Morgan Chase & Co cut shares of Sasol from an overweight rating to a neutral rating in a research note on Tuesday, July 18th. Finally, Royal Bank Of Canada reaffirmed an outperform rating on shares of Sasol in a report on Thursday, September 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Sasol presently has a consensus rating of Hold.

Sasol (NYSE:SSL) traded down 0.86% on Friday, hitting $30.14. 340,711 shares of the stock traded hands. Sasol has a 12 month low of $24.91 and a 12 month high of $32.40. The firm has a 50-day moving average price of $30.15 and a 200-day moving average price of $29.46. The company has a market capitalization of $19.45 billion, a PE ratio of 11.86 and a beta of 0.88.

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The business also recently declared a dividend, which was paid on Monday, September 11th. Investors of record on Friday, September 8th were issued a $0.059 dividend. The ex-dividend date of this dividend was Wednesday, September 6th.

Several institutional investors have recently added to or reduced their stakes in the company. Harding Loevner LP grew its holdings in shares of Sasol by 5.7% during the second quarter. Harding Loevner LP now owns 2,470,715 shares of the oil and gas company’s stock worth $69,056,000 after buying an additional 134,044 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Sasol by 7.3% during the second quarter. Northern Trust Corp now owns 237,154 shares of the oil and gas company’s stock worth $6,629,000 after buying an additional 16,064 shares in the last quarter. State Street Corp grew its holdings in shares of Sasol by 4.6% during the second quarter. State Street Corp now owns 232,022 shares of the oil and gas company’s stock worth $6,484,000 after buying an additional 10,104 shares in the last quarter. Goldman Sachs Group Inc. purchased a new stake in shares of Sasol during the first quarter worth $5,638,000. Finally, Parametric Portfolio Associates LLC grew its holdings in shares of Sasol by 5.2% during the second quarter. Parametric Portfolio Associates LLC now owns 178,124 shares of the oil and gas company’s stock worth $4,979,000 after buying an additional 8,874 shares in the last quarter. 1.82% of the stock is owned by institutional investors and hedge funds.

About Sasol

Sasol Limited is an international integrated chemicals and energy company. The Company develops and commercializes technologies, and builds and operates facilities to produce a range of product streams, including liquid fuels, chemicals and low-carbon electricity. The Company’s operating business units include Mining and, Exploration and Production International.

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