Sasol (NYSE: SSL – Get a review) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note released Thursday to investors.
Separately, Morgan Stanley upgraded Sasol from an “overweight” rating to an “equal weight” rating in a Tuesday, June 14 report.
Sasol is trading down 3.1%
SSL traded down $0.58 in Thursday’s midday session, hitting $18.16. 275,433 shares of the company were traded, against an average volume of 332,236. The company has a debt ratio of 0.50, a current ratio of 1.44 and a quick ratio of 0.99. Sasol has a one-year low of $14.67 and a one-year high of $28.36. The stock’s 50-day simple moving average is $20.56 and its 200-day simple moving average is $23.00.
Institutional investors weigh in on Sasol
A number of hedge funds have recently changed their SSL holdings. Envestnet Asset Management Inc. raised its position in Sasol by 1.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 100,930 shares of the oil and gas company valued at $1,655,000 after buying an additional 1,545 shares in the last quarter. Bank of America Corp DE increased its position in Sasol by 15.8% in the fourth quarter. Bank of America Corp DE now owns 126,736 shares of the oil and gas company valued at $2,079,000 after buying an additional 17,256 shares in the last quarter. Capricorn Fund Managers Ltd acquired a new stake in Sasol in Q4 valued at approximately $532,000. NorthCrest Asset Management LLC acquired a new stake in Sasol in Q1 valued at approximately $207,000. Finally, QP Wealth Management LLC acquired a new stake in Sasol in Q1 valued at approximately $246,000. Institutional investors and hedge funds own 1.36% of the company’s shares.
(Get an evaluation)
Sasol Limited, together with its subsidiaries, operates as an integrated chemical and energy company in South Africa. The Company operates through Mining, Gas, Fuels, Africa Chemicals, America Chemicals and Eurasia Chemicals segments. It operates coal mines; and develops and manages upstream interests in oil and gas exploration and production in Mozambique, South Africa, Canada and Gabon.
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