Sasol (SSL) Downgraded by Bank of America

Bank of America lowered shares of Sasol (NYSE:SSL) from a buy rating to a neutral rating in a research note published on Monday morning, Marketbeat reports.

Several other equities research analysts have also recently issued reports on SSL. Zacks Investment Research raised shares of Sasol from a sell rating to a buy rating and set a $34.00 price objective for the company in a research report on Tuesday, January 29th. Macquarie cut shares of Sasol from an outperform rating to a neutral rating in a research report on Friday, February 8th. Finally, TD Securities reissued an average rating and issued a $7.50 price target on shares of Sasol in a research report on Thursday, November 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $20.75.

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Sasol stock opened at $29.16 on Monday. The firm has a market cap of $18.44 billion, a PE ratio of 14.09, a PEG ratio of 1.25 and a beta of 0.84. Sasol has a 12-month low of $27.40 and a 12-month high of $39.73. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.36 and a quick ratio of 0.87.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. lifted its position in Sasol by 377.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 67,800 shares of the oil and gas company’s stock valued at $1,986,000 after acquiring an additional 53,600 shares during the last quarter. NumerixS Investment Technologies Inc lifted its position in Sasol by 112.5% in the fourth 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 last quarter. Foyston Gordon & Payne Inc lifted its position in Sasol by 66.1% in the fourth quarter. Foyston Gordon & Payne Inc now owns 39,017 shares of the oil and gas company’s stock valued at $1,143,000 after acquiring an additional 15,522 shares during the last quarter. Pzena Investment Management LLC lifted its position in Sasol by 3.2% in the fourth quarter. Pzena Investment Management LLC now owns 70,186 shares of the oil and gas company’s stock valued at $2,056,000 after acquiring an additional 2,186 shares during the last quarter. Finally, Greenleaf Trust lifted its position in Sasol by 21.5% in the fourth quarter. Greenleaf Trust now owns 33,934 shares of the oil and gas company’s stock valued at $994,000 after acquiring an additional 6,016 shares during the last quarter. 2.19% of the stock is owned by hedge funds and other institutional investors.

About Sasol

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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