Sasol (NYSE:SSL) Stock Passes Above 200-Day Moving Average – Here’s Why
by Teresa Graham · The Cerbat GemSasol Ltd. (NYSE:SSL – Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.99 and traded as high as $6.59. Sasol shares last traded at $6.5550, with a volume of 1,232,696 shares changing hands.
Analyst Ratings Changes
Several analysts recently weighed in on the stock. Wall Street Zen cut shares of Sasol from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 15th. Morgan Stanley lowered shares of Sasol from an “overweight” rating to an “equal weight” rating in a report on Monday, September 22nd. Zacks Research downgraded shares of Sasol from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 25th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Sasol in a report on Wednesday, October 8th. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce”.
View Our Latest Research Report on Sasol
Sasol Trading Down 0.6%
The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.27 and a current ratio of 1.87. The company’s 50 day moving average is $6.47 and its 200 day moving average is $6.00.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the company. ABC Arbitrage SA purchased a new position in shares of Sasol during the second quarter worth about $833,000. Creative Planning lifted its holdings in shares of Sasol by 157.0% in the 2nd quarter. Creative Planning now owns 246,324 shares of the oil and gas company’s stock valued at $1,089,000 after buying an additional 150,491 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Sasol during the 2nd quarter worth $339,000. American Century Companies Inc. boosted its holdings in Sasol by 25.5% during the second quarter. American Century Companies Inc. now owns 890,502 shares of the oil and gas company’s stock worth $3,936,000 after buying an additional 180,827 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Sasol by 11.9% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 767,312 shares of the oil and gas company’s stock valued at $3,392,000 after buying an additional 81,769 shares in the last quarter. Hedge funds and other institutional investors own 1.21% of the company’s stock.
About Sasol
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.