Sasol (NYSE:SSL) Reaches New 1-Year High – Still a Buy?

Sasol Ltd. (NYSE:SSL)’s stock price reached a new 52-week high during trading on Friday. The stock traded as high as $15.21 and last traded at $15.1340, with a volume of 2,297,057 shares changing hands. The stock had previously closed at $14.20.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SSL. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Sasol in a research report on Monday, June 15th. Investec started coverage on Sasol in a report on Wednesday, June 17th. They set a “sell” rating on the stock. Weiss Ratings raised Sasol from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday. Wall Street Zen raised shares of Sasol from a “hold” rating to a “strong-buy” rating in a research report on Saturday, September 5th. Finally, Zacks Research raised shares of Sasol from a “strong sell” rating to a “hold” rating in a research report on Monday, August 31st. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold”.

Sasol Price Performance

The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.17 and a current ratio of 1.79. The firm has a 50 day moving average price of $12.94 and a two-hundred day moving average price of $12.44.

Sasol (NYSE:SSL) last released its quarterly earnings results on Friday, August 14th. The oil and gas company reported $0.56 EPS for the quarter. The business had revenue of $4.61 billion during the quarter. On average, analysts predict that Sasol Ltd. will post 2.71 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Vuyo Dominic Kahla sold 22,608 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $12.70, for a total transaction of $287,121.60. Following the completion of the sale, the executive vice president owned 114,792 shares of the company’s stock, valued at approximately $1,457,858.40. This trade represents a 16.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Victor Bester sold 2,852 shares of Sasol stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $12.70, for a total transaction of $36,220.40. Following the completion of the sale, the executive vice president owned 26,855 shares of the company’s stock, valued at approximately $341,058.50. This trade represents a 9.60% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 60,412 shares of company stock valued at $800,983. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. increased its position in shares of Sasol by 123.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,381,209 shares of the oil and gas company’s stock worth $13,563,000 after purchasing an additional 762,796 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Sasol during the second quarter worth about $1,084,000. Sanctuary Advisors LLC acquired a new position in Sasol in the first quarter worth about $1,231,000. Engineers Gate Manager LP grew its stake in Sasol by 146.6% in the second quarter. Engineers Gate Manager LP now owns 83,589 shares of the oil and gas company’s stock worth $821,000 after purchasing an additional 49,699 shares in the last quarter. Finally, Quantinno Capital Management LP grew its stake in Sasol by 40.6% in the first quarter. Quantinno Capital Management LP now owns 166,465 shares of the oil and gas company’s stock worth $2,157,000 after purchasing an additional 48,086 shares in the last quarter. 1.21% of the stock is currently owned by institutional investors.

About Sasol

Sasol Limited is an integrated chemicals and energy company headquartered in Johannesburg, South Africa. Founded in 1950, the company developed expertise in converting coal and other feedstocks into fuels and chemical products and remains known for its proprietary Fischer-Tropsch and related process technologies.

Sasol produces and markets fuels, solvents, alcohols, waxes, polymers, ammonia, and other chemical products used in industries such as manufacturing, mining, agriculture, automotive, and consumer goods.