Sasol (NYSE:SSL) Sets New 52-Week High – Should You Buy?

Shares of Sasol Ltd. (NYSE:SSL) hit a new 52-week high on Thursday . The stock traded as high as $7.96 and last traded at $7.9750, with a volume of 210770 shares trading hands. The stock had previously closed at $7.59.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SSL shares. Zacks Research upgraded shares of Sasol from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 22nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sasol in a research note on Wednesday, January 21st. Wall Street Zen upgraded shares of Sasol from a “buy” rating to a “strong-buy” rating in a report on Sunday, February 8th. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Sasol in a research note on Friday, January 16th. Finally, The Goldman Sachs Group lowered shares of Sasol from a “buy” rating to a “neutral” rating in a research report on Monday. Three 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, Sasol has an average rating of “Reduce”.

Sasol Trading Up 3.6%

The firm’s 50-day moving average price is $6.75 and its two-hundred day moving average price is $6.43. The company has a quick ratio of 1.27, a current ratio of 1.87 and a debt-to-equity ratio of 0.66.

Institutional Trading of Sasol

Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in shares of Sasol by 1,627.3% in 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 buying an additional 966,539 shares during the period. Millennium Management LLC lifted its stake in Sasol by 75.7% in the 1st quarter. Millennium Management LLC now owns 1,450,355 shares of the oil and gas company’s stock worth $6,135,000 after acquiring an additional 624,911 shares in the last quarter. Voleon Capital Management LP acquired a new stake in Sasol during the 3rd quarter worth about $3,079,000. Arrowstreet Capital Limited Partnership acquired a new stake in Sasol during the 3rd quarter worth about $3,006,000. Finally, Bank of America Corp DE grew its stake in Sasol by 206.2% during the 2nd quarter. Bank of America Corp DE now owns 537,250 shares of the oil and gas company’s stock valued at $2,375,000 after acquiring an additional 361,777 shares in the last quarter. 1.21% of the stock is 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.