Sasol (NYSE:SSL) Stock Lifted to Strong-Buy by Zacks Research

Sasol (NYSE:SSL) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday, Zacks reports.

A number of other research analysts have also issued reports on SSL. Wall Street Zen upgraded Sasol from a “hold” rating to a “strong-buy” rating in a research report on Saturday, September 5th. Weiss Ratings raised shares of Sasol from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Finally, Bank of America upgraded shares of Sasol from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Sasol Price Performance

Sasol stock opened at $13.91 on Monday. The firm’s 50-day moving average is $14.88 and its 200-day moving average is $12.11. 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 $5.97 and a 1 year high of $18.19.

Sasol (NYSE:SSL) last posted its earnings results on Friday, August 14th. The oil and gas company reported $0.56 EPS for the quarter. The company had revenue of $4.61 billion for the quarter. As a group, research analysts forecast that Sasol will post 2.99 earnings per share for the current year.

Insider Activity at Sasol

In related news, CFO Walt Bruns sold 1,798 shares of the company’s stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $14.14, for a total value of $25,423.72. Following the completion of the sale, the chief financial officer owned 54,819 shares of the company’s stock, valued at $775,140.66. This represents a 3.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Sandile Lawrence Siyaya sold 2,842 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $12.70, for a total transaction of $36,093.40. Following the completion of the transaction, the executive vice president owned 301 shares of the company’s stock, valued at $3,822.70. This represents a 90.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 60,412 shares of company stock valued at $800,983 in the last ninety days. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. increased its stake in shares of Sasol by 123.3% during the second quarter. Assenagon Asset Management S.A. now owns 1,381,209 shares of the oil and gas company’s stock valued at $13,563,000 after acquiring an additional 762,796 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Sasol by 3.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 796,208 shares of the oil and gas company’s stock worth $10,319,000 after purchasing an additional 23,994 shares during the period. Pictet Asset Management Holding SA acquired a new stake in Sasol in the third quarter worth approximately $9,179,000. Ritholtz Wealth Management lifted its position in Sasol by 72.0% in the third quarter. Ritholtz Wealth Management now owns 165,029 shares of the oil and gas company’s stock worth $2,281,000 after purchasing an additional 69,090 shares during the period. Finally, Quantinno Capital Management LP lifted its position in Sasol by 40.6% in the first quarter. Quantinno Capital Management LP now owns 166,465 shares of the oil and gas company’s stock worth $2,157,000 after purchasing an additional 48,086 shares during the period. 1.21% of the stock is currently owned by institutional investors.

Sasol Company Profile

Sasol is an integrated energy and chemicals company headquartered in South Africa. Founded in 1950, it developed expertise in converting coal and natural gas into liquid fuels and chemical products, including through Fischer-Tropsch technology. The company produces and markets fuels, such as gasoline, diesel and aviation fuel, as well as a broad range of chemicals used in industries including manufacturing, agriculture and consumer goods. Its activities span energy and chemicals value chains, from feedstock processing to product marketing.