Sasol (NYSE:SSL) Reaches New 1-Year High - Here's Why

Key Points

• Sasol shares reached a new 52-week high of $15.79, trading about 0.9% higher during the session and well above their 50-day and 200-day moving averages.
• Analyst sentiment has improved, with Zacks Research, Wall Street Zen and Bank of America raising their ratings; however, the consensus remains “Hold”, based on two Buy, four Hold and one Sell rating.
• Sasol reported quarterly earnings of $0.56 per share on $4.61 billion in revenue, while insiders sold approximately 60,412 shares worth $800,983 over the past three months.

Sasol Ltd. (NYSE:SSL - Get Free Report) reached a new 52-week high during mid-day trading on Thursday. The stock traded as high as $15.79 and last traded at $15.7860, with a volume of 18,520 shares traded. The stock had previously closed at $15.63.

Analyst Ratings Changes

A number of research firms have recently weighed in on SSL. Zacks Research raised shares of Sasol from a "strong sell" rating to a "hold" rating in a research note on Monday, August 31st. Wall Street Zen raised Sasol from a "hold" rating to a "strong-buy" rating in a research note on Saturday, September 5th. Bank of America upgraded shares of Sasol from a "neutral" rating to a "buy" rating in a research report on Wednesday, September 9th. Weiss Ratings raised Sasol from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, October 8th. Finally, Investec started coverage on Sasol in a research report on Wednesday, June 17th. They set a "sell" rating for the company. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold".

Sasol Trading Up 0.9%

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 has a fifty day moving average price of $13.20 and a 200 day moving average price of $12.50.

Sasol (NYSE:SSL - Get Free Report) last issued its earnings results on Friday, August 14th. The oil and gas company reported $0.56 EPS for the quarter. The business had revenue of $4.61 billion during the quarter. On average, equities analysts forecast that Sasol Ltd. will post 2.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Sasol news, EVP Sandile Lawrence Siyaya sold 2,842 shares of Sasol stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $12.70, for a total transaction of $36,093.40. Following the sale, the executive vice president directly owned 301 shares in the company, valued at $3,822.70. The trade was a 90.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Vuyo Dominic Kahla sold 22,608 shares of the firm'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 transaction of $287,121.60. Following the sale, the executive vice president directly owned 114,792 shares of the company's stock, valued at $1,457,858.40. The trade was a 16.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 60,412 shares of company stock worth $800,983. Company insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Sasol

Several institutional investors and hedge funds have recently bought and sold shares of the business. Mather Group LLC. acquired a new stake in Sasol in the 3rd quarter valued at about $83,000. Foster Group Inc. bought a new stake in shares of Sasol during the 3rd quarter worth $142,000. Sequoia Financial Advisors LLC grew 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. acquired a new stake in shares of Sasol during the second quarter worth $255,000. Finally, Engineers Gate Manager LP raised its holdings in Sasol by 146.6% during the 2nd quarter. Engineers Gate Manager LP now owns 83,589 shares of the oil and gas company's stock worth $821,000 after buying an additional 49,699 shares during the period. Institutional investors and hedge funds own 1.21% of the company's stock.

Sasol Company Profile

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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