Sterne Agee Cuts Target, Estimates for Halliburton and Schlumberger (HAL, SLB)

Oilfield services giants Halliburton Company (HAL) and Schlumberger Limited (SLB) on Tuesday caught some tepid commentary from analysts at Sterne Agee.

The firm maintained its “Buy” rating on HAL buy lowered its price target to $46. That new target still suggests a massive 61% upside to the stock’s Monday closing price of $28.60. Sterne Agree also reduced its earnings estimates for the company, citing weak oil prices and sluggish natural gas drilling in the U.S.

Meanwhile, the analyst also maintained its “Buy” rating but cut its price target for SLB. The new target of $89 suggests a 37% upside to the stock’s Monday closing price of $64.94. Additionally, Sterne Agee lowered its estimates for the company, citing the same low oil prices and natural gas drilling trends.

The Bottom Line
Halliburton currently offers 1.26% dividend yield, based on last night’s closing price of $28.60 and the company’s annualized dividend payout of 36 cents per share. Schlumberger offers a 1.69% yield, based on last night’s closing price of $64.94 and the company’s annualized dividend of $1.10 per share.

Halliburton Company (HAL) and Schlumberger Limited (SLB) are both currently rated “Neutral” by Dividend.com.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here