Sasol (NYSE:SSL) Reaches New 52-Week High – Here’s Why

Sasol Ltd. (NYSE:SSL)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $13.68 and last traded at $13.4860, with a volume of 289723 shares changing hands. The stock had previously closed at $13.10.

Wall Street Analyst Weigh In

Several research firms recently commented on SSL. Wall Street Zen upgraded Sasol from a “hold” rating to a “buy” rating in a report on Saturday, March 14th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Sasol in a report on Monday, April 20th. UBS Group downgraded Sasol from a “buy” rating to a “neutral” rating in a report on Thursday, March 5th. The Goldman Sachs Group downgraded Sasol from a “buy” rating to a “neutral” rating in a report on Monday, February 9th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Sasol in a report on Friday, January 16th. Four investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

Sasol Stock Up 3.9%

The stock has a 50 day simple moving average of $11.35 and a 200-day simple moving average of $8.29. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.09 and a current ratio of 1.66.

Institutional Investors Weigh In On Sasol

Large investors have recently made changes to their positions in the company. Atlas Capital Advisors Inc. bought a new stake in shares of Sasol during the 4th quarter valued at about $35,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Sasol by 232.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,606 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 3,920 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Sasol by 347.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,960 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 6,957 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of Sasol during the 2nd quarter valued at about $52,000. Finally, Brevan Howard Capital Management LP purchased a new position in shares of Sasol during the 3rd quarter valued at about $63,000. 1.21% of the stock is currently owned by 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.