Sasol (NYSE:SSL) Sets New 12-Month High on Analyst Upgrade

Sasol Ltd. (NYSE:SSL) shares reached a new 52-week high on Saturday after Wall Street Zen upgraded the stock from a buy rating to a strong-buy rating. The company traded as high as $7.54 and last traded at $7.4850, with a volume of 2354315 shares. The stock had previously closed at $7.05.

A number of other analysts have also recently issued reports on the stock. Zacks Research cut shares of Sasol from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 25th. JPMorgan Chase & Co. restated an “underweight” rating on shares of Sasol in a report on Friday, January 16th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Sasol in a report on Wednesday. Two research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Strong Sell”.

Hedge Funds Weigh In On Sasol

Institutional investors and hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its stake in Sasol by 347.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,960 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 6,957 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of Sasol during the 2nd quarter worth about $52,000. GAMMA Investing LLC raised its position in shares of Sasol by 107.9% during the third quarter. GAMMA Investing LLC now owns 8,637 shares of the oil and gas company’s stock valued at $54,000 after buying an additional 4,482 shares during the last quarter. Brevan Howard Capital Management LP acquired a new position in shares of Sasol during the third quarter valued at about $63,000. Finally, Centiva Capital LP bought a new stake in shares of Sasol in the third quarter valued at about $67,000. Institutional investors own 1.21% of the company’s stock.

Sasol Stock Performance

The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.27 and a current ratio of 1.87. The business has a 50-day moving average of $6.54 and a two-hundred day moving average of $6.20.

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.