Sasol (NYSE:SSL) Shares Gap Down to $8.61

Sasol Limited (NYSE:SSL) shares gapped down before the market opened on Tuesday . The stock had previously closed at $8.61, but opened at $8.24. Sasol shares last traded at $8.15, with a volume of 154,571 shares trading hands.

Wall Street Analysts Forecast Growth

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

Sasol Stock Performance

The company’s 50 day moving average price is $7.90 and its two-hundred day moving average price is $9.85.

Sasol Cuts Dividend

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

Hedge Funds Weigh In On Sasol

Hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James & Associates purchased a new stake in Sasol during the 1st quarter valued at about $595,000. BlackRock Inc. increased its holdings in Sasol by 3.2% in the 1st quarter. BlackRock Inc. now owns 323,713 shares of the oil and gas company’s stock worth $7,828,000 after buying an additional 9,940 shares during the period. Yousif Capital Management LLC purchased a new position in Sasol during the 1st quarter worth approximately $235,000. Cibc World Market Inc. acquired a new stake in Sasol during the 1st quarter valued at approximately $598,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of Sasol by 342.0% in the 1st quarter. Renaissance Technologies LLC now owns 61,000 shares of the oil and gas company’s stock valued at $1,475,000 after acquiring an additional 47,200 shares during the last quarter. Institutional investors own 1.21% of the company’s stock.

Sasol Company Profile

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.