Sasol (NYSE:SSL) Hits New 1-Year High - Still a Buy?

Key Points

• Sasol shares reached a new 52-week high, trading as high as $15.21 and closing up 6.6% from the prior session. The stock remains above its 50-day and 200-day moving averages.
• Analyst sentiment is mixed: Bank of America upgraded the stock to “buy,” while other firms maintain “hold” or “sell” ratings. MarketBeat’s consensus rating remains “Hold.”
• Sasol reported quarterly earnings of $0.56 per share on $4.61 billion in revenue, while insiders have sold 60,412 shares worth approximately $801,000 over the past quarter.

Sasol Ltd. (NYSE:SSL - Get Free Report) shares hit a new 52-week high during trading on Friday. The company traded as high as $15.21 and last traded at $15.1340, with a volume of 2297057 shares changing hands. The stock had previously closed at $14.20.

Analyst Upgrades and Downgrades

SSL has been the subject of a number of recent analyst reports. Bank of America upgraded Sasol from a "neutral" rating to a "buy" rating in a report on Wednesday, September 9th. Investec assumed coverage on Sasol in a research report on Wednesday, June 17th. They set a "sell" rating on the stock. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of Sasol in a research note on Monday, June 15th. Zacks Research upgraded Sasol from a "strong sell" rating to a "hold" rating in a report on Monday, August 31st. Finally, Wall Street Zen raised Sasol from a "hold" rating to a "strong-buy" rating in a research note on Saturday, September 5th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold".

Sasol Stock Up 6.6%

The company has a quick ratio of 1.17, a current ratio of 1.79 and a debt-to-equity ratio of 0.49. The business's fifty day simple moving average is $12.87 and its 200 day simple moving average is $12.42.

Sasol (NYSE:SSL - Get Free Report) last announced its quarterly earnings data on Friday, August 14th. The oil and gas company reported $0.56 earnings per share for the quarter. The company had revenue of $4.61 billion for the quarter. As a group, research analysts anticipate that Sasol Ltd. will post 2.71 EPS for the current year.

Insider Transactions at Sasol

In related news, CFO Walt Bruns sold 1,798 shares of the business's stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $14.14, for a total value of $25,423.72. Following the completion of the sale, the chief financial officer directly owned 54,819 shares of the company's stock, valued at $775,140.66. The trade was a 3.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Victor Bester sold 2,852 shares of the company's stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $12.70, for a total value of $36,220.40. Following the transaction, the executive vice president directly owned 26,855 shares in the company, valued at approximately $341,058.50. This trade represents a 9.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 60,412 shares of company stock valued at $800,983. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sasol

Hedge funds and other institutional investors have recently modified their holdings of the company. Assenagon Asset Management S.A. raised its holdings 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 worth $13,563,000 after buying an additional 762,796 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Sasol during the second quarter valued at about $1,084,000. Sanctuary Advisors LLC acquired a new position in shares of Sasol during the first quarter valued at about $1,231,000. Engineers Gate Manager LP increased its position in shares of Sasol by 146.6% during the second quarter. Engineers Gate Manager LP now owns 83,589 shares of the oil and gas company's stock worth $821,000 after acquiring an additional 49,699 shares in the last quarter. Finally, Quantinno Capital Management LP increased its position in shares of Sasol by 40.6% during the first quarter. Quantinno Capital Management LP now owns 166,465 shares of the oil and gas company's stock worth $2,157,000 after acquiring an additional 48,086 shares in the last quarter. Institutional investors own 1.21% of the company's stock.

About Sasol

Sasol Limited is an integrated chemicals and energy company headquartered in Johannesburg, South Africa. Founded in 1950, the company developed expertise in converting coal and other feedstocks into fuels and chemical products and remains known for its proprietary Fischer-Tropsch and related process technologies.

Sasol produces and markets fuels, solvents, alcohols, waxes, polymers, ammonia, and other chemical products used in industries such as manufacturing, mining, agriculture, automotive, and consumer goods.

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