Sasol (NYSE:SSL) Share Price Passes Above 200-Day Moving Average – What’s Next?

Sasol Ltd. (NYSE:SSL) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $9.47 and traded as high as $13.53. Sasol shares last traded at $13.2150, with a volume of 1,048,581 shares changing hands.

Analysts Set New Price Targets

A number of research firms recently commented on SSL. Wall Street Zen upgraded shares of Sasol from a “hold” rating to a “buy” rating in a research note on Saturday, March 14th. The Goldman Sachs Group lowered shares of Sasol from a “buy” rating to a “neutral” rating in a research note on Monday, February 9th. Zacks Research upgraded Sasol from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. UBS Group cut Sasol from a “buy” rating to a “neutral” rating in a research report on Thursday, March 5th. Finally, Weiss Ratings upgraded Sasol from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Sasol presently has an average rating of “Hold”.

Sasol Stock Performance

The company has a quick ratio of 1.09, a current ratio of 1.66 and a debt-to-equity ratio of 0.53. The stock has a fifty day moving average of $12.97 and a 200-day moving average of $9.47.

Insider Activity

In related news, EVP Sarushen Dhanapalan Pillay sold 2,182 shares of Sasol stock in a transaction on Monday, May 11th. The stock was sold at an average price of $13.14, for a total value of $28,671.48. Following the transaction, the executive vice president directly owned 16,313 shares in the company, valued at $214,352.82. The trade was a 11.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Sasol

A number of hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC grew its holdings in shares of Sasol by 4.6% in the 1st quarter. Parallel Advisors LLC now owns 20,894 shares of the oil and gas company’s stock worth $271,000 after acquiring an additional 915 shares during the last quarter. Arkadios Wealth Advisors purchased a new position in shares of Sasol during the first quarter valued at $228,000. Quantinno Capital Management LP grew its holdings in shares of Sasol by 40.6% during the first quarter. Quantinno Capital Management LP now owns 166,465 shares of the oil and gas company’s stock valued at $2,157,000 after buying an additional 48,086 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Sasol by 14.3% during the first quarter. Public Employees Retirement System of Ohio now owns 159,063 shares of the oil and gas company’s stock valued at $2,061,000 after buying an additional 19,940 shares in the last quarter. Finally, Compound Planning Inc. grew its holdings in shares of Sasol by 41.8% during the first quarter. Compound Planning Inc. now owns 14,678 shares of the oil and gas company’s stock valued at $190,000 after buying an additional 4,330 shares in the last quarter. 1.21% of the stock is currently owned by institutional investors and hedge funds.

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.