Sasol (NYSE:SSL) Sets New 1-Year High - What's Next?

Key Points

• Sasol shares reached a new 52-week high, trading as high as $14.92 and last changing hands around $14.98, up 4.5% from the prior close.
• Analyst sentiment has improved, with Bank of America and UBS upgrading the stock to “Buy,” although the overall consensus remains “Hold” with two Buy, five Hold, and one Sell rating.
• Sasol reported quarterly earnings of $0.56 per share on $4.61 billion in revenue, while several institutional investors increased their holdings; hedge funds and institutions own 1.21% of the stock.

Sasol Ltd. (NYSE:SSL - Get Free Report)'s share price 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.

Analysts Set New Price Targets

Several research analysts recently issued reports on SSL shares. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of Sasol in a research report on Monday, June 15th. Bank of America upgraded Sasol from a "neutral" rating to a "buy" rating in a research note on Wednesday, September 9th. Zacks Research raised shares of Sasol from a "strong sell" rating to a "hold" rating in a report on Monday, August 31st. UBS Group upgraded shares of Sasol from a "neutral" rating to a "buy" rating in a research note on Thursday, June 4th. Finally, Weiss Ratings upgraded shares of Sasol from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, September 2nd. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Sasol has an average rating of "Hold".

Sasol Trading Up 4.5%

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 50 day moving average price of $11.78 and a two-hundred day moving average price of $11.90.

Sasol (NYSE:SSL - Get Free Report) last issued its quarterly 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 for the quarter. On average, analysts forecast that Sasol Ltd. will post 2.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Sasol

A number of hedge funds and other institutional investors have recently made changes to their positions in SSL. Assenagon Asset Management S.A. raised its holdings in shares of Sasol by 123.3% in the 2nd 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 purchasing an additional 762,796 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Sasol in the second quarter worth $1,084,000. Sanctuary Advisors LLC purchased a new stake in Sasol in the first quarter worth $1,231,000. UBS Group AG raised its stake in shares of Sasol by 52.0% in the fourth quarter. UBS Group AG now owns 835,052 shares of the oil and gas company's stock valued at $5,436,000 after buying an additional 285,807 shares during the period. Finally, Quantinno Capital Management LP raised its stake in shares of Sasol by 40.6% in the first quarter. Quantinno Capital Management LP now owns 166,465 shares of the oil and gas company's stock valued at $2,157,000 after buying an additional 48,086 shares during the period. 1.21% of the stock is owned by hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.