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.
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