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

Sasol Limited (NYSE:SSL)’s share price 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.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Sasol from a “strong-buy” rating to a “buy” rating in a research report on Monday, March 11th.

Sasol Trading Down 1.7 %

The stock has a fifty day simple moving average of $7.90 and a two-hundred day simple moving average of $9.70.

Sasol Cuts Dividend

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

Institutional Trading of Sasol

Several hedge funds have recently modified their holdings of the stock. Signaturefd LLC increased its stake in shares of Sasol by 27.3% in the 3rd quarter. Signaturefd LLC now owns 5,397 shares of the oil and gas company’s stock valued at $74,000 after acquiring an additional 1,156 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Sasol by 12.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 10,390 shares of the oil and gas company’s stock valued at $142,000 after acquiring an additional 1,185 shares in the last quarter. Ritholtz Wealth Management increased its stake in shares of Sasol by 5.6% in the 4th quarter. Ritholtz Wealth Management now owns 53,000 shares of the oil and gas company’s stock valued at $527,000 after acquiring an additional 2,812 shares in the last quarter. CWM LLC increased its stake in shares of Sasol by 819.9% in the 1st quarter. CWM LLC now owns 3,330 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 2,968 shares in the last quarter. Finally, First Trust Direct Indexing L.P. increased its stake in shares of Sasol by 13.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 29,024 shares of the oil and gas company’s stock valued at $397,000 after acquiring an additional 3,424 shares in the last quarter. 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.