Sasol (NYSE:SSL) Hits New 12-Month High – Time to Buy?

Sasol Ltd. (NYSE:SSL) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $7.50 and last traded at $7.4840, with a volume of 317647 shares. The stock had previously closed at $7.07.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SSL shares. Morgan Stanley downgraded shares of Sasol from an “overweight” rating to an “equal weight” rating in a research note on Monday, September 22nd. Weiss Ratings reissued a “sell (d+)” rating on shares of Sasol in a research note on Wednesday, October 8th. Wall Street Zen downgraded Sasol from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 15th. Finally, Zacks Research lowered shares of Sasol from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 25th. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce”.

Sasol Price Performance

The stock has a fifty day simple moving average of $6.53 and a 200-day simple moving average of $6.11. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.87 and a quick ratio of 1.27.

Hedge Funds Weigh In On Sasol

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC increased its holdings in shares of Sasol by 347.3% during the second quarter. EverSource Wealth Advisors LLC now owns 8,960 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 6,957 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Sasol during the second quarter worth approximately $52,000. GAMMA Investing LLC boosted its position in shares of Sasol by 107.9% during the third quarter. GAMMA Investing LLC now owns 8,637 shares of the oil and gas company’s stock worth $54,000 after purchasing an additional 4,482 shares in the last quarter. Brevan Howard Capital Management LP acquired a new stake in shares of Sasol in the third quarter valued at approximately $63,000. Finally, Centiva Capital LP acquired a new position in shares of Sasol during the 3rd quarter worth approximately $67,000. 1.21% of the stock is owned by institutional investors and hedge funds.

Sasol Company Profile

Sasol Limited is an integrated energy and chemical company headquartered in Johannesburg, South Africa. The company’s core operations encompass the conversion of natural gas, coal and heavy hydrocarbons into liquid fuels and a wide array of chemical products. Sasol leverages proprietary Fischer-Tropsch and gas-to-liquids (GTL) technologies to deliver cleaner-burning diesel, jet fuel and naphtha, alongside solvents, surfactants and specialty polymers for industrial and consumer applications.

In addition to its GTL business, Sasol operates downstream facilities for the manufacture of alpha olefins, ethylene, propylene and other base-chemical intermediates.