NEW YORK, Feb 11, 2026, 14:12 EST — Regular session
- SLB shares climbed 2.1%, reaching $51.38 in afternoon trading.
- Oil jumped close to 2%, boosting oilfield services and other energy-related stocks.
- SLB goes ex-dividend Wednesday, with its next payout scheduled for April 2.
SLB (SLB.N) shares climbed $1.06, or 2.1%, to $51.38 by 2:12 p.m. EST, having earlier hit $51.98. Halliburton (HAL.N) climbed 2.7%, while Baker Hughes (BKR.O) jumped 3.6%.
This shift is significant since oilfield service stocks usually act as a gauge for producers’ spending plans. When crude prices rise, investors typically expect increased drilling, maintenance, and offshore projects to receive funding—or at minimum, be protected.
SLB traded ex-dividend, so anyone purchasing shares from Wednesday on won’t get the upcoming quarterly payment. The dividend is set at $0.295 per share, with a payout date of April 2.
Crude prices climbed nearly 2% amid concerns over U.S.-Iran tensions, though a bigger-than-expected rise in U.S. crude inventories limited the upside, Reuters reported. “There are no signs, at least for now, of escalation,” PVM Oil Associates analyst Tamas Varga noted in a report, while UBS oil analyst Giovanni Staunovo pointed to Middle East tensions as a price support factor. Reuters
Oilfield services took a hit after Bloomberg News revealed Baker Hughes is considering a $1.5 billion sale of its Waygate Technologies unit. Baker Hughes didn’t respond when Reuters reached out for comment.
Investors are betting on SLB’s strong presence overseas, particularly in the Middle East. Just this month, the company secured a $1.5 billion, five-year contract with Kuwait Oil Company to handle the Mutriba field. This integrated development deal tasks SLB with the design, development, and production management of the project.
Offshore players haven’t been idle either. Transocean is set to acquire Valaris in a $5.8 billion all-stock agreement, according to Reuters. This move reflects a wider effort to grow amid customer cutbacks on new well projects and mounting pressure on suppliers to tighten pricing.
Support for SLB could quickly vanish if oil reverses this week’s rally. A softer stance on Iran or another spate of hefty inventory increases would challenge the buying driving the group higher.
Traders will be watching oil headlines closely while also tracking key calendar events that impact positioning. For SLB, the April 2 dividend payout is one to note.
