Sasol (NYSE:SSL) Shares Gap Up to $7.05

Sasol Limited (NYSE:SSL)’s share price gapped up prior to trading on Monday . The stock had previously closed at $7.05, but opened at $7.28. Sasol shares last traded at $7.27, with a volume of 104,837 shares traded.

Analysts Set New Price Targets

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

Sasol Price Performance

The business has a 50 day simple moving average of $7.73 and a two-hundred day simple moving average of $9.24.

Sasol Cuts Dividend

The business 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. The ex-dividend date was Thursday, March 14th. This represents a yield of 6.9%.

Hedge Funds Weigh In On Sasol

A number of institutional investors have recently modified their holdings of the stock. CWM LLC increased its stake in shares of Sasol by 819.9% during the first quarter. CWM LLC now owns 3,330 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 2,968 shares during the period. Lindbrook Capital LLC raised its holdings in shares of Sasol by 148.9% in the 1st quarter. Lindbrook Capital LLC now owns 4,817 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 2,882 shares in the last quarter. Signaturefd LLC lifted its position in shares of Sasol by 27.3% in the 3rd quarter. Signaturefd LLC now owns 5,397 shares of the oil and gas company’s stock worth $74,000 after purchasing an additional 1,156 shares during the period. PDS Planning Inc purchased a new position in Sasol during the first quarter valued at approximately $79,000. Finally, PNC Financial Services Group Inc. raised its stake in Sasol by 12.9% in the third quarter. PNC Financial Services Group Inc. now owns 10,390 shares of the oil and gas company’s stock worth $142,000 after buying an additional 1,185 shares in the last quarter. 1.21% of the stock is owned by hedge funds and other 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.