Sasol (NYSE:SSL) Shares Gap Down to $7.17

Shares of Sasol Limited (NYSE:SSL) gapped down prior to trading on Wednesday . The stock had previously closed at $7.17, but opened at $6.93. Sasol shares last traded at $6.97, with a volume of 559,481 shares.

Analyst Ratings Changes

Separately, StockNews.com lowered Sasol from a “strong-buy” rating to a “buy” rating in a research note on Monday, March 11th.

Sasol Stock Down 1.7 %

The business has a 50 day moving average of $7.90 and a 200 day moving average of $9.70.

Sasol Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.5248 dividend. This represents a yield of 6.9%. The ex-dividend date of this dividend was Thursday, March 14th.

Hedge Funds Weigh In On Sasol

A number of institutional investors have recently added to or reduced their stakes in the company. Ballentine Partners LLC bought a new position in Sasol in the first quarter worth $137,000. CWM LLC raised its holdings in Sasol by 819.9% in the first quarter. CWM LLC now owns 3,330 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 2,968 shares in the last quarter. Barometer Capital Management Inc. bought a new position in Sasol in the fourth quarter worth $117,000. Trexquant Investment LP raised its holdings in Sasol by 223.8% in the fourth quarter. Trexquant Investment LP now owns 61,859 shares of the oil and gas company’s stock worth $615,000 after purchasing an additional 42,753 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Sasol in the fourth quarter worth $460,000. Institutional investors own 1.21% of the company’s stock.

About Sasol

Sasol Limited operates as an integrated chemical and energy company in South Africa. It offers alumina, such as battery materials, catalyst supports, abrasives and polishing, and polymer additives; cobalt fischer-tropsch; carbon-based products; recarburiser; graphite electrodes; mono-ethylene glycol, ethylene, propylene, sasfroth blends, sodium cyanide, caustic soda, hydrochloric acid, sulfuric acid, calcium chloride, chlorine, alcohols, aromatic blends, methyl alcohol, polyethylene, polypropylene, polyvinyl chloride, cresols, xylenols, phenols, limestone ammonium nitrate, ammonium nitrate solution, and nitric acid.