Sasol (NYSE:SSL) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Sasol Ltd. (NYSE:SSL) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $8.82 and traded as high as $13.22. Sasol shares last traded at $13.14, with a volume of 767,282 shares traded.

Wall Street Analyst Weigh In

SSL has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (d+)” rating on shares of Sasol in a research report on Monday, April 20th. Zacks Research upgraded shares of Sasol from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. JPMorgan Chase & Co. restated an “underweight” rating on shares of Sasol in a research report on Friday, January 16th. The Goldman Sachs Group lowered shares of Sasol from a “buy” rating to a “neutral” rating in a research report on Monday, February 9th. Finally, Wall Street Zen upgraded shares of Sasol from a “hold” rating to a “buy” rating in a research report on Saturday, March 14th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold”.

Sasol Trading Up 2.8%

The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.09 and a current ratio of 1.66. The business’s 50-day moving average is $12.40 and its two-hundred day moving average is $8.85.

Insider Buying and Selling

In other Sasol news, EVP Sarushen Dhanapalan Pillay sold 2,182 shares of Sasol stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $13.14, for a total transaction of $28,671.48. Following the transaction, the executive vice president directly owned 16,313 shares of the company’s stock, valued at $214,352.82. The trade was a 11.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sasol

Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC raised its stake in Sasol by 240.6% during the third quarter. SG Americas Securities LLC now owns 261,467 shares of the oil and gas company’s stock worth $1,626,000 after purchasing an additional 184,704 shares during the period. JPMorgan Chase & Co. raised its stake in Sasol by 1,627.3% during the third 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. Sivia Capital Partners LLC purchased a new position in Sasol during the second quarter worth about $52,000. Barometer Capital Management Inc. raised its stake in Sasol by 59.4% during the third quarter. Barometer Capital Management Inc. now owns 82,621 shares of the oil and gas company’s stock worth $514,000 after purchasing an additional 30,800 shares during the period. Finally, Ballentine Partners LLC raised its stake in Sasol by 8.9% during the third 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 during the period. 1.21% of the stock is 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.