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

Sasol Ltd. (NYSE:SSL)’s share price reached a new 52-week high on Friday . The company traded as high as $9.17 and last traded at $9.0950, with a volume of 1361939 shares changing hands. The stock had previously closed at $8.11.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SSL shares. Wall Street Zen lowered Sasol from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reissued a “sell (d+)” rating on shares of Sasol in a report on Wednesday, January 21st. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Sasol in a report on Friday, January 16th. Zacks Research upgraded Sasol from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 23rd. Finally, The Goldman Sachs Group downgraded shares of Sasol from a “buy” rating to a “neutral” rating in a report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Sasol has an average rating of “Hold”.

Sasol Stock Performance

The business has a 50 day simple moving average of $7.20 and a two-hundred day simple moving average of $6.67. The company has a quick ratio of 1.27, a current ratio of 1.66 and a debt-to-equity ratio of 0.53.

Institutional Investors Weigh In On Sasol

A number of institutional investors and hedge funds have recently bought and sold shares of SSL. Laird Norton Wetherby Wealth Management LLC lifted its position in Sasol by 5.1% during the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 32,723 shares of the oil and gas company’s stock valued at $204,000 after purchasing an additional 1,593 shares during the last quarter. Ballentine Partners LLC lifted its holdings in shares of Sasol by 8.9% during the 3rd quarter. Ballentine Partners LLC now owns 21,317 shares of the oil and gas company’s stock worth $133,000 after acquiring an additional 1,745 shares during the last quarter. PDS Planning Inc grew its position in Sasol by 15.3% in the fourth quarter. PDS Planning Inc now owns 14,269 shares of the oil and gas company’s stock worth $93,000 after acquiring an additional 1,893 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in Sasol by 3.9% in the third quarter. Integrated Wealth Concepts LLC now owns 62,848 shares of the oil and gas company’s stock valued at $391,000 after acquiring an additional 2,334 shares during the last quarter. Finally, US Bancorp DE increased its stake in Sasol by 11.5% in the third quarter. US Bancorp DE now owns 26,354 shares of the oil and gas company’s stock valued at $164,000 after acquiring an additional 2,719 shares during the last quarter. 1.21% of the stock is owned by hedge funds and other institutional investors.

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.