JPMorgan Chase & Co. Reiterates Neutral Rating for Sasol (NYSE:SSL)

Sasol (NYSE:SSL)‘s stock had its “neutral” rating reaffirmed by JPMorgan Chase & Co. in a research note issued to investors on Monday,Benzinga reports.

Other equities analysts have also issued research reports about the stock. Zacks Research downgraded shares of Sasol from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Wall Street Zen raised Sasol from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 6th. UBS Group raised Sasol from a “neutral” rating to a “buy” rating in a research note on Thursday, June 4th. Finally, Weiss Ratings raised Sasol from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Sasol Price Performance

SSL stock traded down $1.66 during midday trading on Monday, reaching $11.35. 1,118,555 shares of the stock were exchanged, compared to its average volume of 2,222,873. Sasol has a 52 week low of $4.30 and a 52 week high of $14.36. 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 company has a fifty day moving average price of $13.06 and a 200 day moving average price of $9.78.

Insider Buying and Selling

In related news, EVP Sarushen Dhanapalan Pillay sold 2,182 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $13.14, for a total value of $28,671.48. Following the sale, the executive vice president owned 16,313 shares in the company, valued at approximately $214,352.82. This trade represents a 11.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Sasol

A number of large investors have recently added to or reduced their stakes in SSL. Atlas Capital Advisors Inc. bought a new position in shares of Sasol during the fourth quarter valued at about $35,000. Caitong International Asset Management Co. Ltd grew its holdings in Sasol by 232.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,606 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 3,920 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Sasol by 347.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,960 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 6,957 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in Sasol in the 2nd quarter worth $52,000. Finally, Brevan Howard Capital Management LP bought a new stake in Sasol in the 3rd quarter worth $63,000. Hedge funds and other institutional investors own 1.21% of the company’s stock.

Sasol Company 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.