Sasol (NYSE:SSL) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded Sasol to “strong buy” from “hold.” Bank of America also raised its rating to “buy,” though the overall analyst consensus remains “hold.”
• Sasol reported quarterly earnings of $0.56 per share on revenue of $4.61 billion; analysts expect full-year EPS of $2.99.
• Company insiders sold a combined 60,412 shares over the past 90 days, worth approximately $801,000.

Sasol (NYSE:SSL - Get Free Report) was upgraded by stock analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a note issued to investors on Monday, Zacks reports.

A number of other equities research analysts have also issued reports on the company. Bank of America upgraded Sasol from a "neutral" rating to a "buy" rating in a research note on Wednesday, September 9th. Wall Street Zen upgraded Sasol from a "hold" rating to a "strong-buy" rating in a report on Saturday, September 5th. Finally, Weiss Ratings raised Sasol from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Sasol currently has an average rating of "Hold".

Sasol Stock Performance

NYSE:SSL opened at $13.91 on Monday. The firm's fifty day simple moving average is $14.88 and its 200 day simple moving average is $12.11. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.17 and a current ratio of 1.79. Sasol has a twelve month low of $5.97 and a twelve month high of $18.19.

Sasol (NYSE:SSL - Get Free Report) last announced its quarterly earnings results on Friday, August 14th. The oil and gas company reported $0.56 earnings per share (EPS) for the quarter. The company had revenue of $4.61 billion during the quarter. As a group, research analysts expect that Sasol will post 2.99 earnings per share for the current year.

Insider Activity

In related news, EVP Sandile Lawrence Siyaya sold 2,842 shares of the business's stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $12.70, for a total value of $36,093.40. Following the transaction, the executive vice president owned 301 shares in the company, valued at approximately $3,822.70. The trade was a 90.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Vuyo Dominic Kahla sold 22,608 shares of the business's stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $12.70, for a total value of $287,121.60. Following the completion of the transaction, the executive vice president owned 114,792 shares in the company, valued at approximately $1,457,858.40. This trade represents a 16.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 60,412 shares of company stock worth $800,983. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sasol

A number of institutional investors have recently made changes to their positions in SSL. Mather Group LLC. purchased a new position in shares of Sasol during the 3rd quarter valued at approximately $83,000. Ramsey Quantitative Systems acquired a new position in shares of Sasol in the 2nd quarter worth approximately $68,000. Pinnacle Wealth Planning Services Inc. grew its position in shares of Sasol by 16.3% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 7,385 shares of the oil and gas company's stock worth $102,000 after acquiring an additional 1,033 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in shares of Sasol by 36.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 9,246 shares of the oil and gas company's stock valued at $128,000 after acquiring an additional 2,461 shares during the last quarter. Finally, Foster Group Inc. bought a new stake in shares of Sasol in the 3rd quarter valued at approximately $142,000. 1.21% of the stock is owned by institutional investors and hedge funds.

Sasol Company Profile

Sasol is an integrated energy and chemicals company headquartered in South Africa. Founded in 1950, it developed expertise in converting coal and natural gas into liquid fuels and chemical products, including through Fischer-Tropsch technology. The company produces and markets fuels, such as gasoline, diesel and aviation fuel, as well as a broad range of chemicals used in industries including manufacturing, agriculture and consumer goods. Its activities span energy and chemicals value chains, from feedstock processing to product marketing.

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