Sasol (NYSE:SSL) Sets New 52-Week High – What’s Next?

Sasol Ltd. (NYSE:SSL) hit a new 52-week high on Tuesday . The stock traded as high as $12.67 and last traded at $12.7880, with a volume of 808036 shares. The stock had previously closed at $12.23.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SSL shares. UBS Group cut Sasol from a “buy” rating to a “neutral” rating in a report on Thursday, March 5th. Wall Street Zen upgraded Sasol from a “hold” rating to a “buy” rating in a research report on Saturday, March 14th. Weiss Ratings reissued a “sell (d+)” rating on shares of Sasol in a research note on Wednesday, January 21st. The Goldman Sachs Group cut shares of Sasol from a “buy” rating to a “neutral” rating in a report on Monday, February 9th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Sasol in a research note on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold”.

Sasol Price Performance

The firm’s fifty day moving average price is $8.46 and its 200 day moving average price is $7.13. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.66 and a quick ratio of 1.09.

Institutional Investors Weigh In On Sasol

A number of institutional investors have recently added to or reduced their stakes in SSL. Atlas Capital Advisors Inc. purchased a new stake in shares of Sasol during the fourth quarter valued at about $35,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Sasol by 232.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,606 shares of the oil and gas company’s stock valued at $36,000 after buying an additional 3,920 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Sasol by 107.9% in the 3rd quarter. GAMMA Investing LLC now owns 8,637 shares of the oil and gas company’s stock worth $54,000 after buying an additional 4,482 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Sasol by 347.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,960 shares of the oil and gas company’s stock worth $40,000 after buying an additional 6,957 shares during the last quarter. Finally, EP Wealth Advisors LLC bought a new position in shares of Sasol during the 4th quarter worth approximately $66,000. Institutional investors own 1.21% of the company’s stock.

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.