Sasol (NYSE:SSL) Reaches New 1-Year High - Time to Buy?

Key Points

• Sasol's stock hit a new 52-week high, trading as high as $12.67 and last at $12.7880, up about 4.8% intraday on volume of 808,036 shares.
• Analyst sentiment is mixed—recent upgrades from Wall Street Zen and Zacks contrast with downgrades or sell/underweight calls from Goldman Sachs, JPMorgan and Weiss, leaving an average rating of Hold.
• Technical and fundamental indicators point to a strengthening trend, with the 50-day ($8.46) and 200-day ($7.13) moving averages well below the current price, modest leverage (debt-to-equity 0.53) and low institutional ownership (~1.21%).

Sasol Ltd. (NYSE:SSL - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $12.67 and last traded at $12.7880, with a volume of 808036 shares. The stock had previously closed at $12.23.

Wall Street Analysts Forecast Growth

SSL has been the subject of a number of research reports. Wall Street Zen upgraded Sasol from a "hold" rating to a "buy" rating in a research report on Saturday, March 14th. The Goldman Sachs Group cut shares of Sasol from a "buy" rating to a "neutral" rating in a research report on Monday, February 9th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Sasol in a research note on Wednesday, January 21st. JPMorgan Chase & Co. reissued an "underweight" rating on shares of Sasol in a research note on Friday, January 16th. Finally, Zacks Research upgraded shares of Sasol from a "hold" rating to a "strong-buy" rating in a report on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold".

Sasol Stock Up 4.8%

The business has a 50-day moving average of $8.46 and a 200-day moving average of $7.13. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.66 and a quick ratio of 1.09.

Institutional Investors Weigh In On Sasol

Several institutional investors have recently made changes to their positions in the company. Atlas Capital Advisors Inc. purchased a new position in shares of Sasol during the 4th quarter worth about $35,000. Caitong International Asset Management Co. Ltd raised its position in Sasol by 232.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,606 shares of the oil and gas company's stock worth $36,000 after purchasing an additional 3,920 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Sasol by 347.3% in the second quarter. EverSource Wealth Advisors LLC now owns 8,960 shares of the oil and gas company's stock worth $40,000 after purchasing an additional 6,957 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in Sasol in the second quarter worth about $52,000. Finally, GAMMA Investing LLC boosted its position in shares of Sasol by 107.9% during the third quarter. GAMMA Investing LLC now owns 8,637 shares of the oil and gas company's stock valued at $54,000 after buying an additional 4,482 shares during the period. Institutional investors own 1.21% of the company's stock.

Sasol Company Profile

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.

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