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

Sasol Ltd. (NYSE:SSL) shares hit a new 52-week high on Monday . The stock traded as high as $11.75 and last traded at $11.53, with a volume of 761505 shares. The stock had previously closed at $11.31.

Analysts Set New Price Targets

SSL has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Sasol in a research report on Wednesday, January 21st. Wall Street Zen upgraded Sasol from a “hold” rating to a “buy” rating in a report on Saturday. UBS Group cut Sasol from a “buy” rating to a “neutral” rating in a research note on Thursday, March 5th. Zacks Research raised Sasol from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 23rd. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Sasol in a research note on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Sasol Price Performance

The business’s 50 day moving average is $7.80 and its 200 day moving average is $6.91. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.09 and a current ratio of 1.66.

Institutional Investors Weigh In On Sasol

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Millennium Management LLC lifted 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 last quarter. Jane Street Group LLC increased its stake in 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 valued at $654,000 after purchasing an additional 37,412 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in Sasol during the second quarter worth approximately $52,000. Savant Capital LLC acquired a new stake in Sasol during the second quarter worth approximately $160,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Sasol during the 2nd quarter worth approximately $339,000. Institutional investors and hedge funds 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.