Zacks Investment Research upgraded shares of Sasol (NYSE:SSL) from a hold rating to a buy rating in a research report report published on Saturday, Zacks.com reports. The firm currently has $9.25 price objective 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 subject of several other research reports. JPMorgan Chase & Co. upgraded shares of Sasol from a neutral rating to an overweight rating in a report on Monday, June 8th. HSBC cut shares of Sasol to a sell rating in a report on Friday, June 12th. Finally, Goldman Sachs Group cut shares of Sasol from a buy rating to a hold rating in a research note on Friday, March 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. Sasol currently has an average rating of Hold and an average target price of $9.25.
A number of hedge funds have recently made changes to their positions in SSL. Natixis Advisors L.P. lifted its stake in Sasol by 29.7% in the fourth quarter. Natixis Advisors L.P. now owns 22,794 shares of the oil and gas company’s stock valued at $493,000 after acquiring an additional 5,218 shares during the last quarter. Greenleaf Trust acquired a new stake in Sasol in the fourth quarter valued at $302,000. Citigroup Inc. lifted its stake in Sasol by 36.1% in the fourth quarter. Citigroup Inc. now owns 38,774 shares of the oil and gas company’s stock valued at $838,000 after acquiring an additional 10,290 shares during the last quarter. Oxford Asset Management LLP raised its position in shares of Sasol by 299.5% in the fourth quarter. Oxford Asset Management LLP now owns 51,967 shares of the oil and gas company’s stock valued at $1,123,000 after purchasing an additional 38,958 shares during the period. Finally, UBS Group AG raised its position in shares of Sasol by 108.5% in the fourth quarter. UBS Group AG now owns 10,052 shares of the oil and gas company’s stock valued at $217,000 after purchasing an additional 5,231 shares during the period. Hedge funds and other institutional investors own 2.41% of the company’s stock.
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.
Featured Story: What does a dividend yield signify to investors?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Sasol Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sasol and related companies with MarketBeat.com's FREE daily email newsletter.