Sasol (NYSE:SSL) Upgraded by StockNews.com to “Buy”

Sasol (NYSE:SSL) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Sasol Stock Performance

Shares of SSL traded up $0.48 during midday trading on Wednesday, hitting $7.94. The stock had a trading volume of 544,506 shares, compared to its average volume of 663,409. The company has a 50 day simple moving average of $7.09 and a two-hundred day simple moving average of $7.97. Sasol has a twelve month low of $6.22 and a twelve month high of $14.26.

Institutional Trading of Sasol

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ritholtz Wealth Management increased its position in shares of Sasol by 5.6% in the fourth quarter. Ritholtz Wealth Management now owns 53,000 shares of the oil and gas company’s stock valued at $527,000 after acquiring an additional 2,812 shares during the last quarter. American Century Companies Inc. grew its holdings in Sasol by 13.9% during the third quarter. American Century Companies Inc. now owns 387,880 shares of the oil and gas company’s stock worth $5,302,000 after purchasing an additional 47,446 shares during the period. Citigroup Inc. bought a new position in Sasol during the third quarter worth about $212,000. Dynamic Technology Lab Private Ltd bought a new position in Sasol during the fourth quarter worth about $460,000. Finally, Trexquant Investment LP grew its holdings in Sasol by 223.8% during the fourth quarter. Trexquant Investment LP now owns 61,859 shares of the oil and gas company’s stock worth $615,000 after purchasing an additional 42,753 shares during the period. Institutional investors and hedge funds own 1.21% of the company’s stock.

Sasol Company Profile

Sasol Limited operates as an integrated chemical and energy company in South Africa. It offers alumina, such as battery materials, catalyst supports, abrasives and polishing, and polymer additives; cobalt fischer-tropsch; carbon-based products; recarburiser; graphite electrodes; mono-ethylene glycol, ethylene, propylene, sasfroth blends, sodium cyanide, caustic soda, hydrochloric acid, sulfuric acid, calcium chloride, chlorine, alcohols, aromatic blends, methyl alcohol, polyethylene, polypropylene, polyvinyl chloride, cresols, xylenols, phenols, limestone ammonium nitrate, ammonium nitrate solution, and nitric acid.