Zacks Investment Research upgraded shares of Sasol (NYSE:SSL) from a hold rating to a buy rating in a research report sent to investors on Saturday morning, Zacks.com reports. The firm currently has $9.25 target price 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. “
A number of other brokerages have also commented on SSL. 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. raised shares of Sasol from a neutral rating to an overweight rating in a research report on Monday, June 8th. Finally, HSBC downgraded shares of Sasol to a sell rating in a research note on Friday, June 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $9.25.
Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of Sasol in the 1st quarter valued at about $27,000. Tower Research Capital LLC TRC grew its holdings in Sasol by 755.1% during the first quarter. Tower Research Capital LLC TRC now owns 15,110 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 13,343 shares during the period. FDx Advisors Inc. increased its position in Sasol by 49.9% during the first quarter. FDx Advisors Inc. now owns 17,379 shares of the oil and gas company’s stock worth $35,000 after buying an additional 5,782 shares during the last quarter. Wetherby Asset Management Inc. raised its stake 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 during the period. Finally, GWM Advisors LLC acquired a new stake in shares of Sasol in the first quarter valued at approximately $47,000. Institutional investors and hedge funds own 2.41% of the company’s stock.
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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