Sasol (NYSE:SSL) Sets New 52-Week High – Should You Buy?

Sasol Ltd. (NYSE:SSL) shares hit a new 52-week high on Tuesday . The stock traded as high as $14.92 and last traded at $14.9750, with a volume of 535661 shares. The stock had previously closed at $14.50.

Analyst Upgrades and Downgrades

SSL has been the topic of several recent research reports. Wall Street Zen raised shares of Sasol from a “hold” rating to a “strong-buy” rating in a report on Saturday, September 5th. Bank of America upgraded shares of Sasol from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 9th. UBS Group raised shares of Sasol from a “neutral” rating to a “buy” rating in a research report on Thursday, June 4th. Weiss Ratings upgraded shares of Sasol from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, September 2nd. Finally, Zacks Research raised shares of Sasol from a “strong sell” rating to a “hold” rating in a report on Monday, August 31st. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold”.

Sasol Stock Performance

The business has a 50 day moving average of $11.78 and a 200-day moving average of $11.90. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.17 and a current ratio of 1.79.

Sasol (NYSE:SSL) last issued its earnings results on Friday, August 14th. The oil and gas company reported $0.56 EPS for the quarter. The company had revenue of $4.61 billion during the quarter. Research analysts forecast that Sasol Ltd. will post 2.33 earnings per share for the current year.

Hedge Funds Weigh In On Sasol

A number of large investors have recently modified their holdings of the company. Assenagon Asset Management S.A. grew its stake in 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 in the last quarter. Pictet Asset Management Holding SA purchased a new stake in Sasol in the 1st quarter worth approximately $11,284,000. Arrowstreet Capital Limited Partnership boosted its holdings in Sasol by 3.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 796,208 shares of the oil and gas company’s stock valued at $10,319,000 after purchasing an additional 23,994 shares during the period. UBS Group AG boosted its holdings in Sasol by 52.0% in the 4th quarter. UBS Group AG now owns 835,052 shares of the oil and gas company’s stock valued at $5,436,000 after purchasing an additional 285,807 shares during the period. 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 valued at $2,157,000 after purchasing an additional 48,086 shares in the last quarter. 1.21% of the stock is currently owned by institutional investors.

About Sasol

Sasol Limited is a South African integrated chemicals and energy company listed on the New York Stock Exchange under the symbol SSL. The company develops and commercializes technologies that convert coal and natural gas into fuels, chemicals and other value-added products, with operations and customers in South Africa and international markets.

Its portfolio includes liquid fuels, solvents, alcohols, surfactants, polymers, waxes, ammonia and other chemical products used in sectors such as mining, manufacturing, agriculture, automotive, personal care and household products.