Sasol (NYSE:SSL) Reaches New 52-Week High - Here's Why

Key Points

• Shares hit a new 52-week high, trading as high as $13.68 (last $13.4860) and up about 3.9% on the session, with a 50-day SMA of $11.35 and a 200-day SMA of $8.29 indicating recent upward momentum.
• Analyst sentiment is broadly negative despite some upgrades—four analysts rate the stock a Hold and two a Sell, leaving a consensus rating of "Reduce" after downgrades from UBS, Zacks and Goldman Sachs.
• Institutional investors have been increasing positions (e.g., Millennium Management +75.7%, JPMorgan +1,627.3%, Pictet initiated a large stake), though institutions still own just about 1.21% of the stock.

Shares of Sasol Ltd. (NYSE:SSL - Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $13.68 and last traded at $13.4860, with a volume of 289723 shares. The stock had previously closed at $13.10.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. UBS Group lowered Sasol from a "buy" rating to a "neutral" rating in a research report on Thursday, March 5th. Zacks Research lowered Sasol from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 6th. Wall Street Zen raised Sasol from a "hold" rating to a "buy" rating in a research report on Saturday, March 14th. The Goldman Sachs Group lowered Sasol from a "buy" rating to a "neutral" rating in a research report on Monday, February 9th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Sasol in a research report on Monday, April 20th. Four equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce".

Sasol Stock Up 3.9%

The company has a current ratio of 1.66, a quick ratio of 1.09 and a debt-to-equity ratio of 0.53. The firm has a 50-day simple moving average of $11.35 and a 200 day simple moving average of $8.29.

Hedge Funds Weigh In On Sasol

Several institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC increased its holdings in shares of Sasol by 75.7% during the first quarter. Millennium Management LLC now owns 1,450,355 shares of the oil and gas company's stock valued at $6,135,000 after acquiring an additional 624,911 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Sasol by 1,627.3% during the third quarter. JPMorgan Chase & Co. now owns 1,025,934 shares of the oil and gas company's stock valued at $6,381,000 after acquiring an additional 966,539 shares in the last quarter. Pictet Asset Management Holding SA bought a new position in shares of Sasol during the first quarter valued at $11,284,000. UBS Group AG increased its holdings in shares of Sasol by 52.0% during 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 acquiring an additional 285,807 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Sasol by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 680,048 shares of the oil and gas company's stock valued at $4,426,000 after acquiring an additional 6,109 shares in the last quarter. 1.21% of the stock is currently owned by institutional investors.

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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