Sasol (NYSE:SSL) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen has upgraded Sasol's stock rating from "hold" to "buy," indicating a positive outlook from analysts.
• Sasol's stock opened at $6.74 and has shown significant price movement over the past year, with a low of $2.78 and a high of $8.12.
• Institutional investors have increased their stakes in Sasol, with BNP Paribas Financial Markets and Bank of America Corp DE raising their holdings notably in the second quarter.

Wall Street Zen upgraded shares of Sasol (NYSE:SSL - Free Report) from a hold rating to a buy rating in a research report report published on Saturday morning.

Sasol Price Performance

Shares of Sasol stock traded up $0.22 during trading hours on Friday, reaching $6.96. The company's stock had a trading volume of 1,187,364 shares, compared to its average volume of 1,214,093. The firm has a 50 day moving average price of $5.35 and a 200-day moving average price of $4.57. Sasol has a one year low of $2.78 and a one year high of $7.40. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.84 and a quick ratio of 1.16. The stock has a market cap of $4.51 billion, a P/E ratio of 3.06, a P/E/G ratio of 0.36 and a beta of 0.80.

Hedge Funds Weigh In On Sasol

A number of large investors have recently made changes to their positions in the company. Evergreen Capital Management LLC purchased a new position in shares of Sasol during the 2nd quarter worth about $102,000. BNP Paribas Financial Markets boosted its stake in shares of Sasol by 210.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 221,995 shares of the oil and gas company's stock worth $981,000 after purchasing an additional 150,494 shares during the period. Bank of America Corp DE boosted its stake in shares of Sasol by 206.2% during the 2nd quarter. Bank of America Corp DE now owns 537,250 shares of the oil and gas company's stock worth $2,375,000 after purchasing an additional 361,777 shares during the period. Jane Street Group LLC boosted its position in Sasol by 82.1% in the 2nd quarter. Jane Street Group LLC now owns 281,722 shares of the oil and gas company's stock valued at $1,245,000 after buying an additional 127,022 shares during the period. Finally, Banco BTG Pactual S.A. purchased a new stake in Sasol in the 2nd quarter valued at about $88,000. 1.21% of the stock is owned by hedge funds and other institutional investors.

Sasol Company Profile

Sasol Limited operates as a chemical and energy company in South Africa and internationally. It offers alumina, such as battery materials, catalyst supports, abrasives and polishing, and polymer additives; cobalt fischer-tropsch catalysts; carbon-based and recarburiser products; graphite electrodes; and mono-ethylene glycol and chlor-alkali products, monomers, mining chemicals and reagents, blends and hydrocarbons, methanol products, polymers, phenolics, and fertilizers.