Sasol (SSL) Upgraded by Zacks Investment Research to Strong-Buy
Sasol (NYSE:SSL) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday, Zacks.com reports. The brokerage presently has a $34.00 price target on the oil and gas company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 32.61% from the stock’s current price.
According to Zacks, “Sasol Limited is engaged in the mining and processing of coal. It also produces chemicals, explores for and refines crude oil, and manufactures fertilizers and explosives. In addition, it converts coal to petrochemicals products, such as diesel fuels and gasoline. “
SSL has been the subject of a number of other reports. Macquarie cut shares of Sasol from an “outperform” rating to a “neutral” rating in a research report on Friday, February 8th. Bank of America cut shares of Sasol from a “buy” rating to a “neutral” rating in a research report on Monday, February 11th. Six analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $20.75.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Comerica Bank lifted its position in Sasol by 0.7% during the 4th quarter. Comerica Bank now owns 47,646 shares of the oil and gas company’s stock valued at $1,456,000 after acquiring an additional 340 shares during the period. Unison Advisors LLC lifted its position in Sasol by 0.9% during the 4th quarter. Unison Advisors LLC now owns 50,318 shares of the oil and gas company’s stock valued at $1,474,000 after acquiring an additional 446 shares during the period. YorkBridge Wealth Partners LLC lifted its position in Sasol by 12.7% during the 1st quarter. YorkBridge Wealth Partners LLC now owns 4,302 shares of the oil and gas company’s stock valued at $133,000 after acquiring an additional 484 shares during the period. Wetherby Asset Management Inc. lifted its position in Sasol by 7.0% during the 1st quarter. Wetherby Asset Management Inc. now owns 13,002 shares of the oil and gas company’s stock valued at $402,000 after acquiring an additional 854 shares during the period. Finally, NumerixS Investment Technologies Inc lifted its position in Sasol by 112.5% during the 4th quarter. NumerixS Investment Technologies Inc now owns 1,700 shares of the oil and gas company’s stock valued at $50,000 after acquiring an additional 900 shares during the period. 2.14% of the stock is owned by institutional investors.
Sasol Company Profile
Sasol Limited operates as an integrated chemical and energy company in South Africa. The company operates through Mining, Exploration and Production International, Energy, Base Chemicals, and Performance Chemicals segments. It operates coal mines; and develops and manages upstream interests in oil and gas exploration and production in Mozambique, South Africa, Australia, Canada, Gabon, and Australia.
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