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

Shares of Sasol Limited (NYSE:SSL - Get Free Report) gapped down before the market opened 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.

Analyst Ratings Changes

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

Sasol Stock Down 1.3 %

The stock's 50 day moving average is $7.88 and its 200 day moving average is $9.68.

Sasol Cuts Dividend

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

Institutional Trading of Sasol

Several institutional investors have recently added to or reduced their stakes in SSL. CWM LLC grew its position in shares of Sasol by 819.9% during the 1st quarter. CWM LLC now owns 3,330 shares of the oil and gas company's stock worth $26,000 after purchasing an additional 2,968 shares in the last quarter. Signaturefd LLC grew its position in Sasol by 27.3% during the third quarter. Signaturefd LLC now owns 5,397 shares of the oil and gas company's stock worth $74,000 after buying an additional 1,156 shares in the last quarter. Barometer Capital Management Inc. bought a new position in Sasol during the 4th quarter worth $117,000. Ballentine Partners LLC acquired a new position in Sasol in the 1st quarter valued at $137,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of Sasol by 12.9% during 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 during the period. 1.21% of the stock is currently owned by institutional investors.

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.