Sasol Ltd. (SSL) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Sasol Ltd. (NYSE:SSL) from a strong sell rating to a hold rating in a research note released on Wednesday.

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. “

A number of other research analysts have also weighed in on the company. J P Morgan Chase & Co lowered Sasol from an overweight rating to a neutral rating in a report on Tuesday, July 18th. BidaskClub lowered Sasol from a buy rating to a hold rating in a report on Friday, August 25th. Finally, Royal Bank Of Canada reissued an outperform rating on shares of Sasol in a report on Thursday, September 7th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has an average rating of Hold.

Shares of Sasol (SSL) traded down $0.04 during mid-day trading on Wednesday, hitting $30.62. The stock had a trading volume of 120,437 shares, compared to its average volume of 227,126. The company has a current ratio of 1.69, a quick ratio of 1.20 and a debt-to-equity ratio of 0.34. Sasol has a fifty-two week low of $24.91 and a fifty-two week high of $32.40.

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Hedge funds have recently made changes to their positions in the company. BNP Paribas Arbitrage SA increased its holdings in shares of Sasol by 20.7% in the second quarter. BNP Paribas Arbitrage SA now owns 3,737 shares of the oil and gas company’s stock valued at $104,000 after purchasing an additional 642 shares during the period. Sit Investment Associates Inc. increased its holdings in shares of Sasol by 20.5% in the second quarter. Sit Investment Associates Inc. now owns 5,000 shares of the oil and gas company’s stock valued at $140,000 after purchasing an additional 850 shares during the period. Advisor Group Inc. increased its holdings in shares of Sasol by 79.9% in the third quarter. Advisor Group Inc. now owns 7,074 shares of the oil and gas company’s stock valued at $195,000 after purchasing an additional 3,142 shares during the period. Checchi Capital Advisers LLC acquired a new position in shares of Sasol in the third quarter valued at about $207,000. Finally, FDx Advisors Inc. acquired a new position in shares of Sasol in the third quarter valued at about $251,000. 1.86% of the stock is currently 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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