JPMorgan Chase & Co. Downgrades Sasol (NYSE:SSL) to Neutral

JPMorgan Chase & Co. cut shares of Sasol (NYSE:SSL) from an overweight rating to a neutral rating in a report published on Thursday, May 23rd, FlyOnTheWall reports.

SSL has been the topic of a number of other reports. Macquarie lowered Sasol from an outperform rating to a neutral rating in a report on Friday, February 8th. Zacks Investment Research upgraded Sasol from a sell rating to a hold rating in a research report on Saturday, April 20th. Bank of America lowered Sasol from a buy rating to a neutral rating in a research report on Monday, February 11th. Finally, HSBC lowered Sasol from a buy rating to a hold rating in a research report on Wednesday, May 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a strong buy rating to the company. Sasol currently has an average rating of Hold and a consensus price target of $20.75.

Shares of SSL traded down $0.87 during trading hours on Thursday, reaching $23.98. 458,832 shares of the company’s stock traded hands, compared to its average volume of 220,548. The firm has a market capitalization of $16.26 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 1.94 and a beta of 1.04. Sasol has a twelve month low of $23.92 and a twelve month high of $39.73. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.96 and a current ratio of 1.57.

Hedge funds and other institutional investors have recently modified their holdings of the business. One Wealth Advisors LLC bought a new position in shares of Sasol during the first quarter worth approximately $102,000. Advisors Asset Management Inc. increased its stake in shares of Sasol by 28.8% during the first quarter. Advisors Asset Management Inc. now owns 44,709 shares of the oil and gas company’s stock worth $1,383,000 after purchasing an additional 10,002 shares during the period. Cresset Asset Management LLC bought a new position in shares of Sasol during the first quarter worth approximately $61,000. Northern Trust Corp increased its stake in shares of Sasol by 15.2% during the first quarter. Northern Trust Corp now owns 285,073 shares of the oil and gas company’s stock worth $8,820,000 after purchasing an additional 37,510 shares during the period. Finally, Citigroup Inc. increased its stake in shares of Sasol by 7.2% during the first quarter. Citigroup Inc. now owns 28,698 shares of the oil and gas company’s stock worth $889,000 after purchasing an additional 1,921 shares during the period. 2.02% of the stock is currently owned by 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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Analyst Recommendations for Sasol (NYSE:SSL)

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