Sasol (NYSE:SSL) Sets New 1-Year High – Here’s Why

Sasol Ltd. (NYSE:SSL)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $13.28 and last traded at $13.1870, with a volume of 89477 shares changing hands. The stock had previously closed at $12.71.

Analyst Ratings Changes

Several brokerages have issued reports on SSL. Weiss Ratings reissued a “sell (d+)” rating on shares of Sasol in a research report on Wednesday, January 21st. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Sasol in a research note on Friday, January 16th. UBS Group downgraded shares of Sasol from a “buy” rating to a “neutral” rating in a report on Thursday, March 5th. The Goldman Sachs Group lowered shares of Sasol from a “buy” rating to a “neutral” rating in a research report on Monday, February 9th. Finally, Wall Street Zen raised shares of Sasol from a “hold” rating to a “buy” rating in a report on Saturday, March 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Sasol currently has a consensus rating of “Hold”.

Sasol Price Performance

The stock’s 50-day simple moving average is $8.92 and its two-hundred day simple moving average is $7.30. 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

Institutional investors have recently bought and sold shares of the business. Atlas Capital Advisors Inc. bought a new stake in Sasol during the fourth quarter valued at about $35,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Sasol by 232.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,606 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 3,920 shares during the period. EverSource Wealth Advisors LLC grew its position 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 worth $40,000 after purchasing an additional 6,957 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in Sasol during the 2nd quarter valued at approximately $52,000. Finally, GAMMA Investing LLC raised its stake in Sasol by 107.9% during the 3rd quarter. GAMMA Investing LLC now owns 8,637 shares of the oil and gas company’s stock valued at $54,000 after purchasing an additional 4,482 shares during the period. Hedge funds and other institutional investors own 1.21% of the company’s stock.

About Sasol

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.