Sasol (NYSE:SSL) Hits New 52-Week High – Still a Buy?

Shares of Sasol Ltd. (NYSE:SSL) hit a new 52-week high during trading 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

A number of brokerages have recently weighed in on SSL. Zacks Research upgraded Sasol from a “strong sell” rating to a “hold” rating in a research report on Monday, August 31st. JPMorgan Chase & Co. restated a “neutral” rating on shares of Sasol in a report on Monday, June 15th. Wall Street Zen raised Sasol from a “hold” rating to a “strong-buy” rating in a report on Saturday, September 5th. Bank of America upgraded Sasol from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 9th. Finally, Investec started coverage on shares of Sasol in a report on Wednesday, June 17th. They issued a “sell” rating for the company. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold”.

Sasol Stock Down 5.5%

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 has a 50-day moving average of $11.96 and a 200 day moving average of $11.99.

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

Institutional Investors Weigh In On Sasol

Several hedge funds and other institutional investors have recently made changes to their positions in SSL. Sequoia Financial Advisors LLC lifted its holdings in shares of Sasol by 35.5% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 47,869 shares of the oil and gas company’s stock worth $470,000 after acquiring an additional 12,529 shares during the last quarter. Arlington Capital Management Inc. purchased a new stake in Sasol in the 2nd quarter worth about $255,000. Engineers Gate Manager LP lifted its stake in Sasol by 146.6% in the second quarter. Engineers Gate Manager LP now owns 83,589 shares of the oil and gas company’s stock worth $821,000 after purchasing an additional 49,699 shares during the last quarter. Integrated Wealth Concepts LLC boosted its position in shares of Sasol by 38.7% during the second quarter. Integrated Wealth Concepts LLC now owns 107,176 shares of the oil and gas company’s stock valued at $1,052,000 after buying an additional 29,879 shares during the period. Finally, Corient Private Wealth LP grew its stake in shares of Sasol by 42.3% during the second quarter. Corient Private Wealth LP now owns 48,279 shares of the oil and gas company’s stock valued at $474,000 after buying an additional 14,355 shares during the last quarter. Hedge funds and other institutional investors own 1.21% of the company’s stock.

Sasol Company Profile

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.