Sasol (NYSE:SSL) Reaches New 52-Week High – Time to Buy?

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

Analysts Set New Price Targets

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

Sasol Stock Performance

The stock’s 50 day simple moving average is $7.15 and its two-hundred day simple moving average is $6.64. The company has a quick ratio of 1.27, a current ratio of 1.66 and a debt-to-equity ratio of 0.53.

Institutional Trading of Sasol

Several large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its holdings in shares of Sasol by 1,627.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,025,934 shares of the oil and gas company’s stock worth $6,381,000 after acquiring an additional 966,539 shares during the period. Millennium Management LLC raised its stake in Sasol by 75.7% during the first quarter. Millennium Management LLC now owns 1,450,355 shares of the oil and gas company’s stock worth $6,135,000 after purchasing an additional 624,911 shares during the period. Voleon Capital Management LP acquired a new position in Sasol in the 3rd quarter valued at about $3,079,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Sasol in the 3rd quarter valued at approximately $3,006,000. Finally, Bank of America Corp DE increased its holdings in shares of 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 worth $2,375,000 after buying an additional 361,777 shares during the last quarter. 1.21% of the stock is currently 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.