JPMorgan Chase & Co. Grows Stock Holdings in Sasol Ltd. $SSL

JPMorgan Chase & Co. lifted its stake in shares of Sasol Ltd. (NYSE:SSL) by 1,627.3% during the third quarter, HoldingsChannel.com reports. The fund owned 1,025,934 shares of the oil and gas company’s stock after buying an additional 966,539 shares during the quarter. JPMorgan Chase & Co.’s holdings in Sasol were worth $6,381,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Millennium Management LLC grew its stake in Sasol by 75.7% in the first quarter. Millennium Management LLC now owns 1,450,355 shares of the oil and gas company’s stock worth $6,135,000 after purchasing an additional 624,911 shares in the last quarter. American Century Companies Inc. raised its position in Sasol by 25.5% during the 2nd quarter. American Century Companies Inc. now owns 890,502 shares of the oil and gas company’s stock valued at $3,936,000 after purchasing an additional 180,827 shares in the last quarter. Bank of America Corp DE raised its position in Sasol by 206.2% during the 2nd quarter. Bank of America Corp DE now owns 537,250 shares of the oil and gas company’s stock valued at $2,375,000 after purchasing an additional 361,777 shares in the last quarter. Voleon Capital Management LP purchased a new stake in shares of Sasol in the 3rd quarter worth $3,079,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Sasol during the 3rd quarter worth $3,006,000. Institutional investors own 1.21% of the company’s stock.

Sasol Trading Down 1.1%

SSL opened at $12.97 on Wednesday. The company has a current ratio of 1.66, a quick ratio of 1.09 and a debt-to-equity ratio of 0.53. The business’s 50-day moving average is $9.19 and its two-hundred day moving average is $7.38. Sasol Ltd. has a 1 year low of $2.78 and a 1 year high of $13.39.

Analysts Set New Price Targets

Several brokerages have recently commented on SSL. Zacks Research upgraded Sasol from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Sasol in a research note on Friday, January 16th. Wall Street Zen upgraded shares of Sasol from a “hold” rating to a “buy” rating in a report on Saturday, March 14th. Weiss Ratings reissued a “sell (d+)” rating on shares of Sasol in a research report on Wednesday, January 21st. Finally, The Goldman Sachs Group cut shares of Sasol from a “buy” rating to a “neutral” rating in a research report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold”.

Sasol Profile

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.