New York, Jan 22, 2026, 21:42 EST — Market closed
- SLB shares climbed roughly 1.6%, closing at $49.32 and hitting a fresh 52-week peak
- Attention shifts to SLB’s quarterly report, set to drop before Friday’s open
- Oil dropped roughly 2% as geopolitical tensions eased, putting additional strain on producer spending forecasts
SLB (SLB.N) shares jumped roughly 1.6% to close at $49.32 on Thursday, hitting a new 52-week high just ahead of the oilfield services company’s earnings report Friday. The stock fluctuated between $48.08 and $49.68, with trading volume hitting around 22.8 million shares—well above its usual levels. 1
Timing will be key. SLB plans to release its fourth-quarter and full-year results at 7:00 a.m. Eastern on Jan. 23, followed by a conference call at 9:30 a.m., the company said. 2
Oil prices reversed course Thursday, complicating the print. Brent closed at $64.06 a barrel, while U.S. West Texas Intermediate (WTI) ended at $59.36. The shift came after President Donald Trump eased off tariff threats against Greenland and Iran, coupled with a bigger-than-expected jump in U.S. crude inventories, Reuters reported. “There is a deflation of risk premium,” said Ole Hansen, chief commodity analyst at Saxo Bank — referring to the extra cost traders add to account for supply disruptions. 3
The service group posted stronger-than-expected fourth-quarter profits on Wednesday. CEO Jeff Miller mentioned Halliburton could “scale up fairly quickly” in Venezuela once terms are finalized, keeping the country relevant in oil services discussions. The company also forecasted a high single-digit drop in North American revenue for 2026 compared to 2025. 4
At Davos, Saudi Aramco CEO Amin Nasser dismissed forecasts of a 2026 oil surplus, saying demand remains strong and inventories tight. “Oil glut predictions are seriously exaggerated,” he told reporters Thursday. 5
Broker desks have zeroed in on SLB. On Thursday, Bernstein SocGen Group stuck with an Outperform rating and a $52.30 price target, according to Investing.com. They flagged Venezuela and SLB’s digital arm as key discussion points for the upcoming call. 6
The rally leading up to the event sets high expectations. Should SLB’s outlook suggest postponed projects, weaker pricing, or a conservative stance on client budgets, the stock could face a sharp retreat after hitting a one-year peak.
Investors are watching closely for management’s take on the tug-of-war between oil prices and service demand, particularly if crude lingers around $60. New insights into activity beyond North America will be key, since that region accounts for most of the recent growth.
SLB’s earnings and guidance drop before Friday’s U.S. open. Management will speak at 9:30 a.m. Eastern.
