Sasol (NYSE:SSL) Hits New 12-Month High – What’s Next?

Sasol Ltd. (NYSE:SSL)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $9.17 and last traded at $9.0950, with a volume of 1361939 shares trading hands. The stock had previously closed at $8.11.

Analysts Set New Price Targets

SSL has been the topic of a number of research analyst reports. The Goldman Sachs Group lowered shares of Sasol from a “buy” rating to a “neutral” rating in a report on Monday, February 9th. Wall Street Zen downgraded Sasol from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 16th. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Sasol in a report on Friday, January 16th. Zacks Research upgraded Sasol from a “hold” rating to a “strong-buy” rating in a research note on Monday. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Sasol in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Sasol Trading Up 11.9%

The firm has a fifty day moving average of $7.15 and a 200 day moving average of $6.64. The company has a current ratio of 1.66, a quick ratio of 1.27 and a debt-to-equity ratio of 0.53.

Institutional Trading of Sasol

A number of hedge funds have recently added to or reduced their stakes in SSL. DGS Capital Management LLC acquired a new stake in Sasol during the fourth quarter valued at $71,000. Compound Planning Inc. purchased a new stake in shares of Sasol during the 4th quarter worth about $67,000. Corient Private Wealth LLC grew its position in shares of 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 valued at $194,000 after acquiring an additional 3,537 shares during the period. EP Wealth Advisors LLC purchased a new position in shares of Sasol in the 4th quarter valued at about $66,000. Finally, XTX Topco Ltd increased its stake in shares of Sasol by 202.7% in the 4th 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 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.