Sasol (NYSE:SSL) Shares Gap Up to $7.75

Sasol Limited (NYSE:SSLGet Free Report)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $7.75, but opened at $8.11. Sasol shares last traded at $8.09, with a volume of 124,644 shares changing hands.

Analyst Ratings Changes

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

Check Out Our Latest Stock Analysis on Sasol

Sasol Price Performance

The company has a 50-day simple moving average of $7.93 and a 200 day simple moving average of $10.25.

Sasol Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given 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 hedge funds and other institutional investors have recently made changes to their positions in the company. Voloridge Investment Management LLC bought a new position in shares of Sasol during the 4th quarter worth $584,000. Profund Advisors LLC bought a new position in shares of Sasol during the 4th quarter worth $100,000. Royal Bank of Canada grew its position in shares of Sasol by 28.4% during the 4th quarter. Royal Bank of Canada now owns 32,654 shares of the oil and gas company’s stock worth $324,000 after buying an additional 7,229 shares in the last quarter. Pathstone Holdings LLC bought a new position in shares of Sasol during the 4th quarter worth $128,000. Finally, Point72 Asset Management L.P. bought a new position in shares of Sasol during the 4th quarter worth $386,000. Institutional investors own 1.21% of the company’s stock.

About Sasol

(Get Free Report)

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.

Further Reading

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