Sasol (NYSE:SSL) Upgraded at Bank of America

Sasol (NYSE:SSL) was upgraded by investment analysts at Bank of America from a “neutral” rating to a “buy” rating in a research report issued on Wednesday, Briefing.com reports.

SSL has been the topic of several other reports. Investec started coverage on Sasol in a research report on Wednesday, June 17th. They issued a “sell” rating on the stock. Zacks Research upgraded Sasol from a “strong sell” rating to a “hold” rating in a research report on Monday, August 31st. Weiss Ratings upgraded shares of Sasol from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, September 2nd. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Sasol in a research note on Monday, June 15th. Finally, UBS Group upgraded Sasol from a “neutral” rating to a “buy” rating in a report on Thursday, June 4th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Sasol currently has a consensus rating of “Hold”.

Sasol Stock Up 8.3%

Shares of Sasol stock opened at $13.29 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.17 and a current ratio of 1.79. Sasol has a 1 year low of $5.24 and a 1 year high of $14.36. The business has a 50 day moving average price of $11.39 and a 200 day moving average price of $11.74.

Sasol (NYSE:SSL) last posted its earnings results on Friday, August 14th. The oil and gas company reported $0.56 earnings per share (EPS) for the quarter. The company had revenue of $4.61 billion during the quarter. On average, equities research analysts anticipate that Sasol will post 1.65 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Atlas Capital Advisors Inc. bought a new stake in shares of Sasol in the fourth quarter worth $35,000. Caitong International Asset Management Co. Ltd grew its position in shares of Sasol by 232.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,606 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 3,920 shares in the last quarter. Ramsey Quantitative Systems bought a new stake in shares of Sasol in the 2nd quarter valued at approximately $68,000. EverSource Wealth Advisors LLC increased its holdings in shares of Sasol by 347.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,960 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 6,957 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of Sasol by 48.9% during the 1st quarter. Blue Trust Inc. now owns 9,115 shares of the oil and gas company’s stock valued at $118,000 after acquiring an additional 2,992 shares in the last quarter. Institutional investors and hedge funds own 1.21% of the company’s stock.

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.