Sasol (NYSE:SSL) Sets New 1-Year High – Should You Buy?

Sasol Ltd. (NYSE:SSL)’s share price reached a new 52-week high on Tuesday . The company traded as high as $13.40 and last traded at $13.3380, with a volume of 619673 shares. The stock had previously closed at $12.48.

Wall Street Analysts Forecast Growth

SSL has been the subject of a number of analyst reports. UBS Group lowered shares of Sasol from a “buy” rating to a “neutral” rating in a report on Thursday, March 5th. Zacks Research upgraded shares of Sasol from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. The Goldman Sachs Group lowered shares of Sasol from a “buy” rating to a “neutral” rating in a report on Monday, February 9th. Wall Street Zen upgraded Sasol from a “hold” rating to a “buy” rating in a report on Saturday, March 14th. Finally, JPMorgan Chase & Co. restated an “underweight” rating on shares of Sasol in a report on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold”.

Sasol Stock Performance

The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.09 and a current ratio of 1.66. The firm’s 50-day moving average is $9.62 and its 200-day moving average is $7.54.

Hedge Funds Weigh In On Sasol

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC boosted its position in shares of 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 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% during 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 in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Sasol during the second quarter valued at approximately $52,000. JPMorgan Chase & Co. boosted its position in shares of Sasol by 7,082.0% during the second quarter. JPMorgan Chase & Co. now owns 59,395 shares of the oil and gas company’s stock valued at $263,000 after purchasing an additional 58,568 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Sasol by 25.5% during the second quarter. American Century Companies Inc. now owns 890,502 shares of the oil and gas company’s stock valued at $3,936,000 after purchasing an additional 180,827 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.