Sasol (NYSE:SSL) Reaches New 12-Month High – What’s Next?

Sasol Ltd. (NYSE:SSL) reached a new 52-week high on Monday . The company traded as high as $9.45 and last traded at $9.34, with a volume of 834192 shares. The stock had previously closed at $8.96.

Analysts Set New Price Targets

A number of analysts recently commented on SSL shares. UBS Group lowered Sasol from a “buy” rating to a “neutral” rating in a research note on Thursday, March 5th. Zacks Research raised shares of Sasol from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. The Goldman Sachs Group lowered shares of Sasol from a “buy” rating to a “neutral” rating in a report on Monday, February 9th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sasol in a research note on Wednesday, January 21st. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Sasol in a report on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Sasol Price Performance

The stock has a fifty day moving average price of $7.56 and a 200-day moving average price of $6.83. The company has a current ratio of 1.66, a quick ratio of 1.09 and a debt-to-equity ratio of 0.53.

Institutional Investors Weigh In On Sasol

Institutional investors have recently bought and sold shares of the business. Millennium Management LLC raised its stake in shares of Sasol by 75.7% in the 1st quarter. Millennium Management LLC now owns 1,450,355 shares of the oil and gas company’s stock valued at $6,135,000 after acquiring an additional 624,911 shares during the period. JPMorgan Chase & Co. boosted its position in Sasol by 1,627.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,025,934 shares of the oil and gas company’s stock worth $6,381,000 after purchasing an additional 966,539 shares during the period. American Century Companies Inc. boosted its position in Sasol by 25.5% during the 2nd quarter. American Century Companies Inc. now owns 890,502 shares of the oil and gas company’s stock worth $3,936,000 after purchasing an additional 180,827 shares during the period. UBS Group AG increased its holdings in Sasol by 52.0% in the 4th quarter. UBS Group AG now owns 835,052 shares of the oil and gas company’s stock valued at $5,436,000 after purchasing an additional 285,807 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Sasol by 11.9% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 767,312 shares of the oil and gas company’s stock valued at $3,392,000 after purchasing an additional 81,769 shares in the last quarter. 1.21% of the stock is currently 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.