Sasol (NYSE:SSL) Upgraded to Buy at Bank of America

Sasol (NYSE:SSL - Get Free Report) was upgraded by equities researchers at Bank of America from a "neutral" rating to a "buy" rating in a report issued on Wednesday, Briefing.com reports.

A number of other brokerages also recently commented on SSL. Zacks Research upgraded shares of Sasol from a "strong sell" rating to a "hold" rating in a research report on Monday, August 31st. JPMorgan Chase & Co. reissued a "neutral" rating on shares of Sasol in a research note on Monday, June 15th. Weiss Ratings raised Sasol from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, September 2nd. Wall Street Zen upgraded Sasol from a "hold" rating to a "strong-buy" rating in a research note on Saturday. Finally, Investec assumed coverage on Sasol in a report on Wednesday, June 17th. They set a "sell" rating on the stock. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold".

Get Our Latest Report on Sasol

Sasol Price Performance

Shares of SSL opened at $13.29 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.79 and a quick ratio of 1.17. Sasol has a 1 year low of $5.24 and a 1 year high of $14.36. The company's fifty day moving average is $11.39 and its two-hundred day moving average is $11.74.

Sasol (NYSE:SSL - Get Free Report) last issued its earnings results on Friday, August 14th. The oil and gas company reported $0.56 earnings per share for the quarter. The firm had revenue of $4.61 billion during the quarter. On average, analysts forecast that Sasol will post 1.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sasol

Hedge funds have recently bought and sold shares of the company. Atlas Capital Advisors Inc. purchased a new stake in Sasol during the fourth quarter worth $35,000. Caitong International Asset Management Co. Ltd increased its position in shares of Sasol by 232.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,606 shares of the oil and gas company's stock valued at $36,000 after buying an additional 3,920 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Sasol by 347.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,960 shares of the oil and gas company's stock worth $40,000 after buying an additional 6,957 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Sasol during the 2nd quarter worth $52,000. Finally, Brevan Howard Capital Management LP purchased a new stake in shares of Sasol in the 3rd quarter worth about $63,000. 1.21% of the stock is owned by hedge funds and other institutional investors.

About Sasol

(Get Free Report)

Sasol Limited is an integrated energy and chemical company headquartered in Johannesburg, South Africa. The company's core operations encompass the conversion of natural gas, coal and heavy hydrocarbons into liquid fuels and a wide array of chemical products. Sasol leverages proprietary Fischer-Tropsch and gas-to-liquids (GTL) technologies to deliver cleaner-burning diesel, jet fuel and naphtha, alongside solvents, surfactants and specialty polymers for industrial and consumer applications.

In addition to its GTL business, Sasol operates downstream facilities for the manufacture of alpha olefins, ethylene, propylene and other base-chemical intermediates.

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