NEW YORK, Feb 11, 2026, 14:12 EST — Regular session
- SLB shares were up 2.1% at $51.38 in afternoon trading.
- Oil climbed nearly 2%, supporting oilfield services and other energy-linked stocks.
- SLB trades ex-dividend on Wednesday; the next payout is due April 2.
SLB (SLB.N) shares rose $1.06, or 2.1%, to $51.38 by 2:12 p.m. EST, after earlier touching $51.98. Halliburton (HAL.N) gained 2.7% and Baker Hughes (BKR.O) rose 3.6%.
The move matters because oilfield service stocks often trade as a read-through on producers’ budgets. When crude firms up, investors tend to assume more drilling, maintenance and offshore work gets funded — or at least defended.
SLB also traded on an ex-dividend date, meaning investors who buy the shares from Wednesday onward will not receive the next quarterly payout. The company’s dividend schedule shows a quarterly dividend of $0.295 per share, payable on April 2. (SLB Investor Center)
Crude prices rose nearly 2% on worries about U.S.-Iran tensions, even as a much larger-than-expected build in U.S. crude inventories capped gains, Reuters reported. “There are no signs, at least for now, of escalation,” PVM Oil Associates analyst Tamas Varga wrote in a note, while UBS oil analyst Giovanni Staunovo said Middle East tensions were supporting prices. (Reuters)
Oilfield services also got a jolt from a shake-up story at Baker Hughes. Bloomberg News reported the company is exploring a potential $1.5 billion sale of its Waygate Technologies unit, and Baker Hughes declined to comment when contacted by Reuters. (Reuters)
For SLB, investors have been leaning into the company’s international and Middle East exposure. Earlier this month, it won a $1.5 billion, five-year contract from Kuwait Oil Company for the Mutriba field — an integrated development deal that puts SLB in charge of design, development and production management. (Reuters)
Offshore names have been busy too. Transocean agreed to buy Valaris in a $5.8 billion all-stock deal, Reuters reported, part of a broader push for scale as customers rein in spending on new wells and keep pressure on suppliers to sharpen pricing. (Reuters)
But the support for SLB can fade fast if oil gives back this week’s gains. A calmer tone around Iran, or another run of big inventory builds, would test the bid that’s lifting the group.
Next up, traders will keep one eye on oil headlines and the other on calendar dates that force positioning. For SLB, that includes the April 2 dividend payment.
