Sasol (NYSE:SSL) Sets New 52-Week High After Analyst Upgrade

Shares of Sasol Ltd. (NYSE:SSL) reached a new 52-week high during mid-day trading on Saturday after Zacks Research upgraded the stock from a strong sell rating to a hold rating. The stock traded as high as $7.54 and last traded at $7.4850, with a volume of 2354315 shares changing hands. The stock had previously closed at $7.05.

Several other brokerages have also weighed in on SSL. Weiss Ratings restated a “sell (d+)” rating on shares of Sasol in a research note on Wednesday. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Sasol in a research note on Friday, January 16th. Finally, Wall Street Zen upgraded shares of Sasol from a “buy” rating to a “strong-buy” rating in a research report on Friday. Three research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Sasol presently has an average rating of “Reduce”.

Hedge Funds Weigh In On Sasol

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its position in shares of Sasol by 347.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,960 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 6,957 shares in the last quarter. Sivia Capital Partners LLC bought a new position in Sasol in the second quarter valued at about $52,000. GAMMA Investing LLC lifted its holdings in shares of Sasol by 107.9% in the third quarter. GAMMA Investing LLC now owns 8,637 shares of the oil and gas company’s stock worth $54,000 after acquiring an additional 4,482 shares during the last quarter. Brevan Howard Capital Management LP acquired a new stake in shares of Sasol in the 3rd quarter valued at approximately $63,000. Finally, Centiva Capital LP bought a new stake in shares of Sasol during the 3rd quarter valued at approximately $67,000. 1.21% of the stock is owned by institutional investors and hedge funds.

Sasol Stock Up 6.2%

The company has a debt-to-equity ratio of 0.66, a current ratio of 1.87 and a quick ratio of 1.27. The firm has a 50-day simple moving average of $6.54 and a 200 day simple moving average of $6.22.

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.