Sasol (NYSE:SSL) Reaches New 1-Year High – Here’s What Happened

Shares of Sasol Ltd. (NYSE:SSL) reached a new 52-week high during trading on Wednesday . The company traded as high as $7.50 and last traded at $7.4840, with a volume of 317647 shares. The stock had previously closed at $7.07.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SSL. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Sasol in a research report on Friday. Wall Street Zen cut Sasol from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 15th. Zacks Research lowered Sasol from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 25th. Morgan Stanley lowered shares of Sasol from an “overweight” rating to an “equal weight” rating in a research report on Monday, September 22nd. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Sasol in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Strong Sell”.

Sasol Trading Down 4.1%

The stock’s 50 day simple moving average is $6.57 and its two-hundred day simple moving average is $6.13. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.27 and a current ratio of 1.87.

Hedge Funds Weigh In On Sasol

A number of hedge funds have recently made changes to their positions in the business. Millennium Management LLC increased its holdings 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 valued at $6,135,000 after purchasing an additional 624,911 shares in the last quarter. Jane Street Group LLC boosted its position in shares of Sasol by 31.9% in the first quarter. Jane Street Group LLC now owns 154,700 shares of the oil and gas company’s stock worth $654,000 after buying an additional 37,412 shares during the period. Parallel Advisors LLC lifted its position in Sasol by 119.9% during the 2nd quarter. Parallel Advisors LLC now owns 17,169 shares of the oil and gas company’s stock worth $76,000 after acquiring an additional 9,360 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in Sasol in the second quarter valued at approximately $52,000. Finally, Ballentine Partners LLC grew its stake in shares of Sasol by 47.3% during the second quarter. Ballentine Partners LLC now owns 19,572 shares of the oil and gas company’s stock valued at $87,000 after acquiring an additional 6,283 shares in the last quarter. 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.