Zacks Investment Research upgraded shares of Sasol (NYSE:SSL) from a hold rating to a buy rating in a research note published on Saturday morning, Zacks.com reports. They currently have $9.25 price target on the oil and gas company’s stock.
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. “
Other analysts have also issued reports about the stock. Goldman Sachs Group lowered shares of Sasol from a buy rating to a hold rating in a research report on Friday, March 20th. JPMorgan Chase & Co. upgraded shares of Sasol from a neutral rating to an overweight rating in a research report on Monday, June 8th. Finally, HSBC lowered shares of Sasol to a sell rating in a research report on Friday, June 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $9.25.
Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in Sasol in the first quarter valued at about $27,000. Tower Research Capital LLC TRC boosted its position in Sasol by 755.1% in the first quarter. Tower Research Capital LLC TRC now owns 15,110 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 13,343 shares in the last quarter. FDx Advisors Inc. boosted its position in Sasol by 49.9% in the first quarter. FDx Advisors Inc. now owns 17,379 shares of the oil and gas company’s stock valued at $35,000 after buying an additional 5,782 shares in the last quarter. Wetherby Asset Management Inc. boosted its position in Sasol by 71.0% in the first quarter. Wetherby Asset Management Inc. now owns 22,260 shares of the oil and gas company’s stock valued at $44,000 after buying an additional 9,239 shares in the last quarter. Finally, GWM Advisors LLC acquired a new position in Sasol in the first quarter valued at about $47,000. Hedge funds and other institutional investors own 2.41% of the company’s stock.
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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