Sasol Ltd. (NYSE:SSL) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Sasol Ltd. (NYSE:SSL) have earned an average recommendation of “Reduce” from the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company.

Several research analysts have issued reports on SSL shares. Weiss Ratings downgraded shares of Sasol from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. Wall Street Zen cut shares of Sasol from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 20th. Investec assumed coverage on shares of Sasol in a research note on Wednesday, June 17th. They set a “sell” rating for the company. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Sasol in a report on Monday, June 15th. Finally, UBS Group upgraded Sasol from a “neutral” rating to a “buy” rating in a research report on Thursday, June 4th.

Sasol Stock Performance

SSL stock opened at $11.23 on Tuesday. The company has a fifty day moving average price of $11.44 and a 200 day moving average price of $10.89. Sasol has a 12 month low of $4.77 and a 12 month high of $14.36. The company has a current ratio of 1.66, a quick ratio of 1.09 and a debt-to-equity ratio of 0.53.

Insider Activity

In other 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 value of $28,671.48. Following the transaction, the executive vice president owned 16,313 shares of the company’s stock, valued at approximately $214,352.82. The trade was a 11.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Sasol

Hedge funds and other institutional investors have recently bought and sold shares of the company. Millennium Management LLC raised its position in Sasol by 75.7% during the 1st quarter. Millennium Management LLC now owns 1,450,355 shares of the oil and gas company’s stock worth $6,135,000 after buying an additional 624,911 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of Sasol by 31.9% in the first quarter. Jane Street Group LLC now owns 154,700 shares of the oil and gas company’s stock valued at $654,000 after acquiring an additional 37,412 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Sasol in the second quarter valued at about $52,000. JPMorgan Chase & Co. increased its stake in shares of Sasol by 7,082.0% during the second quarter. JPMorgan Chase & Co. now owns 59,395 shares of the oil and gas company’s stock worth $263,000 after acquiring an additional 58,568 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Sasol by 347.3% during the second quarter. EverSource Wealth Advisors LLC now owns 8,960 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 6,957 shares during the period. 1.21% of the stock is currently owned by hedge funds and other 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.