Sasol (NYSE:SSL) Hits New 1-Year High – Should You Buy?

Sasol Ltd. (NYSE:SSL)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $11.75 and last traded at $11.53, with a volume of 761505 shares changing hands. The stock had previously closed at $11.31.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SSL. Zacks Research upgraded Sasol from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 23rd. Wall Street Zen raised Sasol from a “hold” rating to a “buy” rating in a research note on Saturday. UBS Group cut shares of Sasol from a “buy” rating to a “neutral” rating in a research report on Thursday, March 5th. The Goldman Sachs Group cut shares of Sasol from a “buy” rating to a “neutral” rating in a research report on Monday, February 9th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Sasol in a report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Sasol Trading Up 2.8%

The company has a quick ratio of 1.09, a current ratio of 1.66 and a debt-to-equity ratio of 0.53. The company has a 50 day moving average price of $7.80 and a 200 day moving average price of $6.91.

Institutional Investors Weigh In On Sasol

Several institutional investors and hedge funds have recently modified their holdings of SSL. Millennium Management LLC lifted its stake in Sasol by 75.7% during 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. Jane Street Group LLC increased its stake in Sasol by 31.9% during the first quarter. Jane Street Group LLC now owns 154,700 shares of the oil and gas company’s stock worth $654,000 after purchasing an additional 37,412 shares during the period. Sivia Capital Partners LLC purchased a new stake in Sasol during the second quarter worth about $52,000. Savant Capital LLC acquired a new stake in shares of Sasol during the second quarter worth about $160,000. Finally, SG Americas Securities LLC purchased a new position in shares of Sasol in the second quarter valued at approximately $339,000. Hedge funds and other institutional investors own 1.21% of the company’s stock.

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.