Sasol (NYSE:SSL) Reaches New 12-Month High – Here’s What Happened

Sasol Ltd. (NYSE:SSL)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $8.13 and last traded at $8.0950, with a volume of 946713 shares changing hands. The stock had previously closed at $7.74.

Wall Street Analysts Forecast Growth

SSL has been the topic of a number of recent research reports. The Goldman Sachs Group lowered Sasol from a “buy” rating to a “neutral” rating in a research note on Monday, February 9th. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Sasol in a research report on Friday, January 16th. Zacks Research upgraded shares of Sasol from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 22nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sasol in a research note on Wednesday, January 21st. Finally, Wall Street Zen cut shares of Sasol from a “strong-buy” rating to a “buy” rating in a research note on Monday. Three investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Sasol Stock Performance

The firm’s fifty day moving average is $6.96 and its 200-day moving average is $6.54. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.87 and a quick ratio of 1.27.

Hedge Funds Weigh In On Sasol

Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its position in shares of Sasol by 1,627.3% during the third quarter. JPMorgan Chase & Co. now owns 1,025,934 shares of the oil and gas company’s stock worth $6,381,000 after buying an additional 966,539 shares during the period. Millennium Management LLC raised its holdings in shares of 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 buying an additional 624,911 shares during the period. Voleon Capital Management LP acquired a new position in Sasol during the 3rd quarter worth about $3,079,000. Arrowstreet Capital Limited Partnership acquired a new position in Sasol during the 3rd quarter worth about $3,006,000. Finally, Bank of America Corp DE boosted its holdings in Sasol by 206.2% during the 2nd quarter. Bank of America Corp DE now owns 537,250 shares of the oil and gas company’s stock valued at $2,375,000 after acquiring an additional 361,777 shares during the period. Hedge funds and other institutional investors own 1.21% of the company’s stock.

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.