Sasol (NYSE:SSL) Downgraded by Wall Street Zen to “Buy”

Sasol (NYSE:SSL) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

Other equities research analysts have also recently issued research reports about the company. UBS Group upgraded Sasol from a “neutral” rating to a “buy” rating in a research note on Thursday, June 4th. Investec assumed coverage on shares of Sasol in a research note on Wednesday. They issued a “sell” rating for the company. Weiss Ratings upgraded shares of Sasol from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 18th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Sasol in a research report on Monday, June 15th. Finally, Zacks Research lowered shares of Sasol from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Sasol Stock Down 0.3%

Shares of NYSE SSL opened at $10.73 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.66 and a quick ratio of 1.09. The stock has a 50 day moving average price of $12.89 and a 200 day moving average price of $9.92. Sasol has a 52 week low of $4.30 and a 52 week high of $14.36.

Insiders Place Their Bets

In other Sasol news, EVP Sarushen Dhanapalan Pillay sold 2,182 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $13.14, for a total transaction of $28,671.48. Following the transaction, the executive vice president owned 16,313 shares of the company’s stock, valued at $214,352.82. The trade was a 11.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SSL. Parallel Advisors LLC raised its holdings in 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 acquiring an additional 915 shares during the period. Laird Norton Wetherby Wealth Management LLC lifted its position in Sasol by 5.1% during the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 32,723 shares of the oil and gas company’s stock worth $204,000 after acquiring an additional 1,593 shares during the last quarter. PDS Planning Inc boosted its holdings in shares of Sasol by 15.3% during the fourth quarter. PDS Planning Inc now owns 14,269 shares of the oil and gas company’s stock worth $93,000 after acquiring an additional 1,893 shares during the period. Integrated Wealth Concepts LLC boosted its holdings in shares of 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 during the period. Finally, US Bancorp DE grew its position in shares of Sasol by 11.5% in the third quarter. US Bancorp DE now owns 26,354 shares of the oil and gas company’s stock valued at $164,000 after purchasing an additional 2,719 shares during the last quarter. 1.21% of the stock is owned by institutional investors and hedge funds.

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.