Sasol (NYSE:SSL) Rating Increased to Strong-Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Sasol from “hold” to “strong-buy,” though the broader analyst consensus remains “Hold,” with one Buy, five Hold, and one Sell rating.
• Sasol shares opened at $12.29, compared with a 52-week range of $5.24 to $14.36. The company recently reported quarterly earnings of $0.56 per share on $4.61 billion in revenue.
• Institutional investors increased their exposure to Sasol, including Millennium Management, Assenagon Asset Management, JPMorgan Chase, and UBS; institutions collectively own 1.21% of the stock.

Sasol (NYSE:SSL - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "strong-buy" rating in a research report issued on Saturday, Wall Street Zen reports.

Other research analysts also recently issued research reports about the stock. Investec started coverage on shares of Sasol in a report on Wednesday, June 17th. They issued a "sell" rating for the company. JPMorgan Chase & Co. reissued a "neutral" rating on shares of Sasol in a research note on Monday, June 15th. Weiss Ratings upgraded Sasol from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday. UBS Group raised Sasol from a "neutral" rating to a "buy" rating in a research note on Thursday, June 4th. Finally, Zacks Research upgraded Sasol from a "strong sell" rating to a "hold" rating in a report on Monday, August 31st. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Sasol has a consensus rating of "Hold".

Sasol Stock Performance

Shares of SSL opened at $12.29 on Friday. The company's fifty day moving average is $11.27 and its 200 day moving average is $11.64. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.09 and a current ratio of 1.79. Sasol has a fifty-two week low of $5.24 and a fifty-two week high of $14.36.

Sasol (NYSE:SSL - Get Free Report) last released its quarterly earnings data on Friday, August 14th. The oil and gas company reported $0.56 EPS for the quarter. The business had revenue of $4.61 billion for the quarter. On average, analysts forecast that Sasol will post 1.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sasol

A number of institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC grew its position in Sasol by 75.7% in the 1st quarter. Millennium Management LLC now owns 1,450,355 shares of the oil and gas company's stock valued at $6,135,000 after acquiring an additional 624,911 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Sasol by 123.3% in the second 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 period. JPMorgan Chase & Co. lifted its position in shares of Sasol by 1,627.3% during 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 purchasing an additional 966,539 shares during the last quarter. Pictet Asset Management Holding SA bought a new stake in shares of Sasol during the first quarter worth $11,284,000. Finally, UBS Group AG boosted its stake in shares of Sasol by 52.0% during 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 purchasing 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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