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

Shares of Sasol Limited (NYSE:SSL) 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 changing hands.

Analyst Upgrades and Downgrades

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

Sasol Stock Performance

The company has a 50-day moving average of $7.90 and a 200-day moving average of $9.90.

Sasol Cuts Dividend

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

Institutional Investors Weigh In On Sasol

Large investors have recently added to or reduced their stakes in the stock. Barclays PLC increased its position in Sasol by 2,100.6% in the third quarter. Barclays PLC now owns 75,743 shares of the oil and gas company’s stock worth $1,035,000 after buying an additional 72,301 shares during the period. Ritholtz Wealth Management increased its position in Sasol by 5.6% in the fourth quarter. Ritholtz Wealth Management now owns 53,000 shares of the oil and gas company’s stock worth $527,000 after buying an additional 2,812 shares during the period. American Century Companies Inc. increased its position in Sasol by 13.9% in the third quarter. American Century Companies Inc. now owns 387,880 shares of the oil and gas company’s stock worth $5,302,000 after buying an additional 47,446 shares during the period. Citigroup Inc. acquired a new stake in Sasol in the third quarter worth $212,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Sasol in the third quarter worth $1,059,000. 1.21% of the stock is owned by institutional investors and hedge funds.

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.