Sasol (NYSE:SSL) Rating Lowered to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded Sasol from “Buy” to “Hold,” adding to generally negative analyst sentiment. MarketBeat reports an average rating of “Reduce,” with one Buy, three Hold, and three Sell ratings.
• Sasol shares were trading up 2.9% at $11.52, compared with a 52-week range of $5.24 to $14.36. The company’s current ratio was 1.66 and debt-to-equity ratio was 0.53.
• Institutional investors made modest increases to their Sasol holdings, but institutional ownership remains limited at 1.21% of the stock.

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

SSL has been the topic of several other reports. Investec began coverage on shares of Sasol in a report on Wednesday, June 17th. They issued a "sell" rating on the stock. Zacks Research lowered shares of Sasol from a "hold" rating to a "strong sell" rating in a report on Wednesday, July 8th. Weiss Ratings cut shares of Sasol from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, July 28th. UBS Group raised Sasol from a "neutral" rating to a "buy" rating in a research note on Thursday, June 4th. Finally, JPMorgan Chase & Co. restated a "neutral" rating on shares of Sasol in a research report on Monday, June 15th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Reduce".

Sasol Trading Up 2.9%

Shares of NYSE SSL opened at $11.52 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.66 and a debt-to-equity ratio of 0.53. Sasol has a 1 year low of $5.24 and a 1 year high of $14.36. The firm's 50-day moving average is $11.14 and its 200-day moving average is $11.15.

Hedge Funds Weigh In On Sasol

Hedge funds and other institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC grew its holdings in shares of Sasol by 4.6% in the 1st quarter. Parallel Advisors LLC now owns 20,894 shares of the oil and gas company's stock valued at $271,000 after buying an additional 915 shares during the period. Laird Norton Wetherby Wealth Management LLC raised its stake in Sasol by 5.1% during the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 32,723 shares of the oil and gas company's stock worth $204,000 after buying an additional 1,593 shares during the period. PDS Planning Inc raised its stake in Sasol by 15.3% during the 4th quarter. PDS Planning Inc now owns 14,269 shares of the oil and gas company's stock worth $93,000 after buying an additional 1,893 shares during the period. Integrated Wealth Concepts LLC lifted its holdings in Sasol by 3.9% during the third quarter. Integrated Wealth Concepts LLC now owns 62,848 shares of the oil and gas company's stock worth $391,000 after acquiring an additional 2,334 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in Sasol by 11.5% during the third quarter. US Bancorp DE now owns 26,354 shares of the oil and gas company's stock worth $164,000 after acquiring an additional 2,719 shares in the last quarter. 1.21% of the stock is owned by institutional investors.

About Sasol

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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