Sasol (NYSE:SSL) Stock Price Up 5.5% – Here’s What Happened

Sasol Ltd. (NYSE:SSL)’s stock price was up 5.5% during mid-day trading on Thursday . The stock traded as high as $10.64 and last traded at $10.6050. Approximately 3,023,537 shares were traded during mid-day trading, an increase of 33% from the average daily volume of 2,280,008 shares. The stock had previously closed at $10.05.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sasol in a report on Wednesday, January 21st. Wall Street Zen cut Sasol from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Sasol in a research note on Friday, January 16th. Zacks Research upgraded Sasol from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Finally, UBS Group downgraded shares of Sasol from a “buy” rating to a “neutral” rating in a research note on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Sasol presently has an average rating of “Hold”.

Sasol Stock Performance

The stock has a 50-day moving average of $7.63 and a 200 day moving average of $6.85. The company has a current ratio of 1.66, a quick ratio of 1.09 and a debt-to-equity ratio of 0.53.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Corient Private Wealth LLC lifted its position in Sasol by 13.1% during the 4th quarter. Corient Private Wealth LLC now owns 30,526 shares of the oil and gas company’s stock worth $199,000 after buying an additional 3,537 shares in the last quarter. DGS Capital Management LLC bought a new position in shares of Sasol in the fourth quarter worth about $71,000. Compound Planning Inc. acquired a new position in shares of Sasol during the fourth quarter worth approximately $67,000. EP Wealth Advisors LLC bought a new stake in shares of Sasol during the fourth quarter valued at approximately $66,000. Finally, XTX Topco Ltd increased its holdings in shares of Sasol by 202.7% in the fourth quarter. XTX Topco Ltd now owns 61,490 shares of the oil and gas company’s stock valued at $400,000 after purchasing an additional 41,174 shares in the last quarter. 1.21% of the stock is owned by 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.