Sasol (NYSE:SSL) Sets New 12-Month High – Still a Buy?

Sasol Ltd. (NYSE:SSL) shares reached a new 52-week high during mid-day trading on Thursday. The company traded as high as $15.79 and last traded at $15.7860, with a volume of 18,520 shares changing hands. The stock had previously closed at $15.63.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SSL. Investec started coverage on shares of Sasol in a research note on Wednesday, June 17th. They issued a “sell” rating on the stock. Weiss Ratings raised shares of Sasol from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Wall Street Zen raised shares of Sasol from a “hold” rating to a “strong-buy” rating in a research note on Saturday, September 5th. Zacks Research upgraded Sasol from a “strong sell” rating to a “hold” rating in a report on Monday, August 31st. Finally, Bank of America upgraded Sasol from a “neutral” rating to a “buy” rating in a report on Wednesday, September 9th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold”.

Sasol Price Performance

The company has a debt-to-equity ratio of 0.49, a current ratio of 1.79 and a quick ratio of 1.17. The company’s 50 day moving average is $13.20 and its two-hundred day moving average is $12.50.

Sasol (NYSE:SSL) last released its quarterly earnings data on Friday, August 14th. The oil and gas company reported $0.56 earnings per share (EPS) for the quarter. The firm had revenue of $4.61 billion for the quarter. As a group, sell-side analysts anticipate that Sasol Ltd. will post 2.71 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Walt Bruns sold 7,890 shares of the firm’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $12.70, for a total value of $100,203.00. Following the completion of the sale, the chief financial officer directly owned 54,628 shares in the company, valued at approximately $693,775.60. This trade represents a 12.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Sandile Lawrence Siyaya sold 2,842 shares of the company’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $12.70, for a total transaction of $36,093.40. Following the transaction, the executive vice president owned 301 shares in the company, valued at approximately $3,822.70. This trade represents a 90.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 60,412 shares of company stock worth $800,983 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Sasol

Several hedge funds and other institutional investors have recently made changes to their positions in SSL. Assenagon Asset Management S.A. lifted its stake in shares of Sasol by 123.3% during the second quarter. Assenagon Asset Management S.A. now owns 1,381,209 shares of the oil and gas company’s stock valued at $13,563,000 after acquiring an additional 762,796 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Sasol in the second quarter valued at approximately $1,084,000. Sanctuary Advisors LLC acquired a new stake in shares of Sasol during the first quarter worth $1,231,000. Engineers Gate Manager LP boosted its holdings in Sasol by 146.6% during the second quarter. Engineers Gate Manager LP now owns 83,589 shares of the oil and gas company’s stock worth $821,000 after buying an additional 49,699 shares during the last quarter. Finally, Quantinno Capital Management LP grew its position in shares of Sasol by 40.6% during the 1st quarter. Quantinno Capital Management LP now owns 166,465 shares of the oil and gas company’s stock worth $2,157,000 after buying an additional 48,086 shares during the period. 1.21% of the stock is owned by institutional investors and hedge funds.

About Sasol

Sasol Limited is an integrated chemicals and energy company headquartered in Johannesburg, South Africa. Founded in 1950, the company developed expertise in converting coal and other feedstocks into fuels and chemical products and remains known for its proprietary Fischer-Tropsch and related process technologies.

Sasol produces and markets fuels, solvents, alcohols, waxes, polymers, ammonia, and other chemical products used in industries such as manufacturing, mining, agriculture, automotive, and consumer goods.