Sasol (NYSE:SSL) Hits New 12-Month High – Here’s Why

Sasol Ltd. (NYSE:SSL) shares reached a new 52-week high on Monday . The company traded as high as $11.75 and last traded at $11.53, with a volume of 761505 shares. The stock had previously closed at $11.31.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. UBS Group cut shares of Sasol from a “buy” rating to a “neutral” rating in a research note on Thursday, March 5th. Wall Street Zen upgraded shares of Sasol from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reissued a “sell (d+)” rating on shares of Sasol in a research note on Wednesday, January 21st. Zacks Research raised shares of Sasol from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 23rd. Finally, The Goldman Sachs Group cut shares of Sasol from a “buy” rating to a “neutral” rating in a research note on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold”.

Sasol Price Performance

The stock has a fifty day simple moving average of $8.01 and a 200-day simple moving average of $6.99. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.09 and a current ratio of 1.66.

Hedge Funds Weigh In On Sasol

Several institutional investors have recently added to or reduced their stakes in SSL. JPMorgan Chase & Co. boosted its position in Sasol by 1,627.3% in the third quarter. JPMorgan Chase & Co. now owns 1,025,934 shares of the oil and gas company’s stock valued at $6,381,000 after buying an additional 966,539 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Sasol by 75.7% during the first quarter. Millennium Management LLC now owns 1,450,355 shares of the oil and gas company’s stock worth $6,135,000 after buying an additional 624,911 shares in the last quarter. Voleon Capital Management LP bought a new position in shares of Sasol in the third quarter valued at approximately $3,079,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Sasol in the 3rd quarter worth approximately $3,006,000. Finally, Bank of America Corp DE boosted its holdings in shares of Sasol by 206.2% in the 2nd quarter. Bank of America Corp DE now owns 537,250 shares of the oil and gas company’s stock worth $2,375,000 after acquiring an additional 361,777 shares in the last quarter. 1.21% of the stock is owned by institutional investors.

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.