Sasol (NYSE:SSL) Shares Cross Above 200 Day Moving Average – Here’s Why

Sasol Ltd. (NYSE:SSL) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $5.43 and traded as high as $6.94. Sasol shares last traded at $6.84, with a volume of 841,278 shares traded.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Sasol in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Sasol from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. Finally, Morgan Stanley cut shares of Sasol from an “overweight” rating to an “equal weight” rating in a report on Monday, September 22nd. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce”.

Sasol Stock Up 0.1%

The company has a debt-to-equity ratio of 0.66, a current ratio of 1.87 and a quick ratio of 1.27. The stock has a 50-day simple moving average of $6.35 and a two-hundred day simple moving average of $5.43.

Institutional Investors Weigh In On Sasol

Several institutional investors and hedge funds have recently added to or reduced their stakes in SSL. Ballentine Partners LLC raised its stake in Sasol by 8.9% during the 3rd quarter. Ballentine Partners LLC now owns 21,317 shares of the oil and gas company’s stock valued at $133,000 after buying an additional 1,745 shares during the last quarter. QRG Capital Management Inc. grew its holdings in shares of Sasol by 11.3% in the second quarter. QRG Capital Management Inc. now owns 22,781 shares of the oil and gas company’s stock worth $101,000 after acquiring an additional 2,318 shares during the period. US Bancorp DE increased its position in Sasol by 27.5% during the first quarter. US Bancorp DE now owns 20,604 shares of the oil and gas company’s stock valued at $87,000 after acquiring an additional 4,442 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Sasol by 107.9% in the third quarter. GAMMA Investing LLC now owns 8,637 shares of the oil and gas company’s stock valued at $54,000 after acquiring an additional 4,482 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in Sasol by 43.9% in the third quarter. PNC Financial Services Group Inc. now owns 16,579 shares of the oil and gas company’s stock worth $103,000 after purchasing an additional 5,061 shares during the last quarter. Hedge funds and other institutional investors own 1.21% of the company’s stock.

Sasol Company Profile

Sasol Limited operates as a chemical and energy company in South Africa and internationally. It offers alumina, such as battery materials, catalyst supports, abrasives and polishing, and polymer additives; cobalt fischer-tropsch catalysts; carbon-based and recarburiser products; graphite electrodes; and mono-ethylene glycol and chlor-alkali products, monomers, mining chemicals and reagents, blends and hydrocarbons, methanol products, polymers, phenolics, and fertilizers.