Sasol (NYSE:SSL) Stock Price Up 2.9% – What’s Next?

Sasol Ltd. (NYSE:SSL – Get Free Report) shares rose 2.9% during trading on Wednesday . The stock 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 session volume of 1,952,651 shares. The stock had previously closed at $13.79.

Analysts Set New Price Targets

A number of research analysts have weighed in on SSL shares. UBS Group raised Sasol from a “neutral” rating to a “buy” rating in a report on Thursday, June 4th. Investec started coverage on shares of Sasol in a research report on Wednesday, June 17th. They set a “sell” rating for the company. Bank of America upgraded shares of Sasol from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 9th. Wall Street Zen raised shares of Sasol from a “hold” rating to a “strong-buy” rating in a report on Saturday, September 5th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of Sasol in a research report on Monday, June 15th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

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Sasol Trading Up 2.8%

The firm’s fifty day simple moving average is $12.22 and its two-hundred day simple moving average is $12.13. The company has a current ratio of 1.79, a quick ratio of 1.17 and a debt-to-equity ratio of 0.49.

Sasol (NYSE:SSL – Get Free Report) last released its earnings results on Friday, August 14th. The oil and gas company reported $0.56 earnings per share for the quarter. The firm had revenue of $4.61 billion for the quarter. On average, equities research analysts predict that Sasol Ltd. will post 2.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC grew its stake in shares of Sasol by 4.6% during the 1st quarter. Parallel Advisors LLC now owns 20,894 shares of the oil and gas company’s stock worth $271,000 after purchasing an additional 915 shares during the period. Blue Trust Inc. lifted its holdings in Sasol by 48.9% during the first quarter. Blue Trust Inc. now owns 9,115 shares of the oil and gas company’s stock valued at $118,000 after purchasing an additional 2,992 shares in the last quarter. DGS Capital Management LLC boosted its holdings in Sasol by 32.7% in the 1st quarter. DGS Capital Management LLC now owns 14,387 shares of the oil and gas company’s stock worth $186,000 after buying an additional 3,549 shares during the last quarter. Compound Planning Inc. lifted its holdings in Sasol by 41.8% in the 1st quarter. Compound Planning Inc. now owns 14,678 shares of the oil and gas company’s stock valued at $190,000 after purchasing an additional 4,330 shares in the last quarter. Finally, Ramsey Quantitative Systems purchased a new stake in shares of Sasol in the second quarter valued at approximately $68,000. Institutional investors own 1.21% of the company’s stock.

About Sasol

(Get Free Report)

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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