Zacks Investment Research upgraded shares of Sasol (NYSE:SSL) from a hold rating to a strong-buy rating in a research note released on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $34.00 target price on the oil and gas company’s stock.
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. “
SSL has been the topic of several other reports. Macquarie downgraded shares of Sasol from an outperform rating to a neutral rating in a research note on Friday, February 8th. Bank of America downgraded shares of Sasol from a buy rating to a neutral rating in a research note on Monday, February 11th. Eight investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Sasol has an average rating of Hold and a consensus target price of $20.75.
A number of hedge funds have recently modified their holdings of SSL. CWM LLC raised its stake in Sasol by 1,612.5% during the first quarter. CWM LLC now owns 1,233 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 1,161 shares during the period. Quantamental Technologies LLC purchased a new position in Sasol during the first quarter worth about $46,000. NumerixS Investment Technologies Inc raised its stake in Sasol by 112.5% during the fourth quarter. NumerixS Investment Technologies Inc now owns 1,700 shares of the oil and gas company’s stock worth $50,000 after purchasing an additional 900 shares during the period. Cresset Asset Management LLC purchased a new position in Sasol during the first quarter worth about $61,000. Finally, O Shaughnessy Asset Management LLC purchased a new position in Sasol during the first quarter worth about $83,000. 2.07% of the stock is currently owned by institutional investors.
Sasol Company Profile
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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