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

Sasol Limited (NYSE:SSL - Get Free Report) 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 traded.

Wall Street Analyst Weigh In

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

Sasol Trading Down 4.6 %

The company's fifty day moving average is $7.90 and its 200 day moving average is $9.86.

Sasol Cuts Dividend

The company also recently declared 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.

Institutional Trading of Sasol

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC raised its position in shares of Sasol by 201.4% in the fourth quarter. Millennium Management LLC now owns 399,333 shares of the oil and gas company's stock valued at $6,274,000 after purchasing an additional 266,829 shares during the period. Cubist Systematic Strategies LLC bought a new position in shares of Sasol in the fourth quarter valued at about $1,489,000. JPMorgan Chase & Co. raised its position in shares of Sasol by 2,140.3% in the first quarter. JPMorgan Chase & Co. now owns 108,051 shares of the oil and gas company's stock valued at $1,475,000 after purchasing an additional 103,228 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Sasol by 10.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,085,272 shares of the oil and gas company's stock valued at $14,836,000 after purchasing an additional 100,789 shares during the period. Finally, Two Sigma Investments LP raised its position in shares of Sasol by 384.7% in the first quarter. Two Sigma Investments LP now owns 125,224 shares of the oil and gas company's stock valued at $1,709,000 after purchasing an additional 99,390 shares during the period. 1.21% of the stock is owned by institutional investors.

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.