Zacks Investment Research upgraded shares of Sasol Ltd. (NYSE:SSL) from a strong sell rating to a hold rating in a report released on Wednesday, November 8th.
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. “
Other equities analysts have also recently issued research reports about the company. BidaskClub raised Sasol from a hold rating to a buy rating in a research report on Saturday, August 12th. J P Morgan Chase & Co cut Sasol from an overweight rating to a neutral rating in a research report on Tuesday, July 18th. Finally, Royal Bank Of Canada reissued an outperform rating on shares of Sasol in a research report on Thursday, September 7th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $33.00.
A number of institutional investors have recently bought and sold shares of the business. Bamco Inc. NY raised its holdings in Sasol by 11.4% in the 3rd quarter. Bamco Inc. NY now owns 457,743 shares of the oil and gas company’s stock valued at $12,602,000 after acquiring an additional 46,772 shares in the last quarter. Jane Street Group LLC acquired a new position in Sasol in the 3rd quarter valued at approximately $219,000. Oppenheimer Asset Management Inc. raised its holdings in Sasol by 10.5% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 55,043 shares of the oil and gas company’s stock valued at $1,515,000 after acquiring an additional 5,223 shares in the last quarter. Harding Loevner LP raised its holdings in Sasol by 2,238.3% in the 3rd quarter. Harding Loevner LP now owns 57,773,363 shares of the oil and gas company’s stock valued at $15,116,000 after acquiring an additional 55,302,648 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in Sasol by 6.0% in the 3rd quarter. Van ECK Associates Corp now owns 42,614 shares of the oil and gas company’s stock valued at $1,173,000 after acquiring an additional 2,404 shares in the last quarter. 1.89% of the stock is owned by hedge funds and other institutional investors.
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Sasol Limited is an international integrated chemicals and energy company. The Company develops and commercializes technologies, and builds and operates facilities to produce a range of product streams, including liquid fuels, chemicals and low-carbon electricity. The Company’s operating business units include Mining and, Exploration and Production International.
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