Sasol (NYSE:SSL) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a report released on Tuesday, Zacks.com reports.
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. "
Other analysts also recently issued reports about the company. HSBC downgraded Sasol to a "sell" rating in a report on Friday, June 12th. Goldman Sachs Group cut shares of Sasol from a "buy" rating to a "hold" rating in a research report on Friday, March 20th. Finally, JPMorgan Chase & Co. raised shares of Sasol from a "neutral" rating to an "overweight" rating in a research report on Monday, June 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company's stock. Sasol currently has a consensus rating of "Hold" and a consensus target price of $9.25.
Shares of NYSE:SSL traded down $0.28 during trading on Tuesday, hitting $7.51. 66,645 shares of the company were exchanged, compared to its average volume of 6,736,066. The company has a market capitalization of $4.80 billion, a P/E ratio of 3.46 and a beta of 3.49. Sasol has a 1-year low of $1.25 and a 1-year high of $24.96. The business's 50 day moving average is $6.69 and its 200-day moving average is $10.58. The company has a quick ratio of 0.72, a current ratio of 1.25 and a debt-to-equity ratio of 0.60.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp lifted its stake in shares of Sasol by 47.3% in the first quarter. State Street Corp now owns 460,092 shares of the oil and gas company's stock worth $925,000 after buying an additional 147,770 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Sasol by 6.5% in the first quarter. Royal Bank of Canada now owns 78,374 shares of the oil and gas company's stock valued at $157,000 after purchasing an additional 4,751 shares during the period. FDx Advisors Inc. grew its holdings in shares of Sasol by 49.9% in the first quarter. FDx Advisors Inc. now owns 17,379 shares of the oil and gas company's stock valued at $35,000 after purchasing an additional 5,782 shares during the period. Voloridge Investment Management LLC grew its holdings in shares of Sasol by 703.3% in the first quarter. Voloridge Investment Management LLC now owns 83,649 shares of the oil and gas company's stock valued at $168,000 after purchasing an additional 73,236 shares during the period. Finally, Advisor Group Holdings Inc. acquired a new position in Sasol in the first quarter valued at about $75,000. 2.41% of the stock is owned by institutional investors.
Sasol Limited operates as an integrated chemical and energy company in South Africa. The company operates through Mining, Exploration and Production International, Energy, Base Chemicals, and Performance Chemicals segments. It operates coal mines; and develops and manages upstream interests in oil and gas exploration and production in Mozambique, South Africa, Australia, Canada, Gabon, and Australia.
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