Sasol (NYSE:SSL) Trading Up 6.1% – Time to Buy?

Sasol Ltd. (NYSE:SSL)’s share price was up 6.1% during mid-day trading on Friday . The stock traded as high as $7.41 and last traded at $7.4820. Approximately 797,617 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 1,533,439 shares. The stock had previously closed at $7.05.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SSL shares. Zacks Research lowered shares of Sasol from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 25th. Wall Street Zen downgraded Sasol from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 15th. JPMorgan Chase & Co. restated an “underweight” rating on shares of Sasol in a research note on Friday, January 16th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sasol in a research report on Wednesday. Two research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Strong Sell”.

Sasol Trading Up 6.5%

The company has a current ratio of 1.87, a quick ratio of 1.27 and a debt-to-equity ratio of 0.66. The firm’s 50-day moving average price is $6.53 and its 200-day moving average price is $6.18.

Institutional Investors Weigh In On Sasol

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its position in Sasol by 347.3% in the second quarter. EverSource Wealth Advisors LLC now owns 8,960 shares of the oil and gas company’s stock worth $40,000 after buying an additional 6,957 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Sasol during the 2nd quarter worth about $52,000. GAMMA Investing LLC grew its holdings in Sasol by 107.9% during the 3rd quarter. GAMMA Investing LLC now owns 8,637 shares of the oil and gas company’s stock valued at $54,000 after purchasing an additional 4,482 shares during the last quarter. Brevan Howard Capital Management LP purchased a new stake in Sasol in the 3rd quarter worth about $63,000. Finally, Centiva Capital LP bought a new stake in Sasol in the third quarter worth about $67,000. 1.21% of the stock is currently owned by hedge funds and other 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.