Sasol (NYSE:SSL) Hits New 12-Month High – Time to Buy?

Sasol Ltd. (NYSE:SSL)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $13.40 and last traded at $13.3380, with a volume of 619673 shares trading hands. The stock had previously closed at $12.48.

Analyst Upgrades and Downgrades

Several analysts have commented on SSL shares. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Sasol in a research report on Friday, January 16th. Zacks Research cut shares of Sasol from a “strong-buy” rating to a “hold” rating in a research report on Monday. UBS Group cut shares of Sasol from a “buy” rating to a “neutral” rating in a research report 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, March 14th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Sasol in a research report on Wednesday, January 21st. Four investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce”.

Sasol Price Performance

The stock has a fifty day simple moving average of $9.85 and a 200-day simple moving average of $7.62. 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

A number of large investors have recently added to or reduced their stakes in the company. Laird Norton Wetherby Wealth Management LLC increased its holdings in Sasol by 5.1% during the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 32,723 shares of the oil and gas company’s stock worth $204,000 after purchasing an additional 1,593 shares in the last quarter. Ballentine Partners LLC increased its holdings in 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 purchasing an additional 1,745 shares in the last quarter. PDS Planning Inc increased its holdings in Sasol by 15.3% during the 4th quarter. PDS Planning Inc now owns 14,269 shares of the oil and gas company’s stock worth $93,000 after purchasing an additional 1,893 shares in the last quarter. Integrated Wealth Concepts LLC increased its holdings in Sasol by 3.9% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 62,848 shares of the oil and gas company’s stock worth $391,000 after purchasing an additional 2,334 shares in the last quarter. Finally, US Bancorp DE boosted its stake in shares of Sasol by 11.5% during the 3rd quarter. US Bancorp DE now owns 26,354 shares of the oil and gas company’s stock worth $164,000 after buying an additional 2,719 shares during the last quarter. Institutional investors own 1.21% of the company’s stock.

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.