Sasol (NYSE:SSL) Trading 2.9% Higher - Here's Why

Key Points

• Sasol shares rose 2.9% to $14.1850 in midday trading, although volume was 77% below the stock’s average daily level.
• Analyst sentiment remains mixed: UBS Group and Bank of America upgraded Sasol to “Buy,” while Investec initiated coverage with a “Sell” rating. The overall consensus rating is “Hold.”
• Sasol reported quarterly earnings of $0.56 per share on $4.61 billion in revenue, while several institutional investors increased their positions; institutional ownership stands at 1.21%.

Sasol Ltd. (NYSE:SSL - Get Free Report) shares were up 2.9% on Wednesday . The company traded as high as $14.29 and last traded at $14.1850. 448,000 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 1,952,651 shares. The stock had previously closed at $13.79.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SSL. UBS Group raised Sasol from a "neutral" rating to a "buy" rating in a research report on Thursday, June 4th. Investec began coverage on Sasol in a research report on Wednesday, June 17th. They set a "sell" rating for the company. Bank of America upgraded Sasol from a "neutral" rating to a "buy" rating in a research note on Wednesday, September 9th. Weiss Ratings raised Sasol from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, September 2nd. Finally, Wall Street Zen upgraded Sasol from a "hold" rating to a "strong-buy" rating in a report on Saturday, September 5th. Two equities 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. According to MarketBeat, the company currently has a consensus rating of "Hold".

Sasol Stock Up 2.8%

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 business's fifty day moving average is $12.22 and its two-hundred day moving average is $12.13.

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

Hedge Funds Weigh In On Sasol

Several hedge funds and other institutional investors have recently bought and sold shares of SSL. Sequoia Financial Advisors LLC grew its stake in shares of Sasol by 35.5% in the second 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 period. Arlington Capital Management Inc. purchased a new stake in Sasol in the second quarter worth approximately $255,000. Engineers Gate Manager LP grew its position in Sasol by 146.6% in the 2nd 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 period. Integrated Wealth Concepts LLC grew its position in Sasol by 38.7% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 107,176 shares of the oil and gas company's stock worth $1,052,000 after purchasing an additional 29,879 shares during the period. Finally, Corient Private Wealth LP raised its stake in Sasol by 42.3% during the 2nd 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. Institutional investors own 1.21% of the company's stock.

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.

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