New York, Jan 29, 2026, 15:38 (EST) — Regular session
- SLB slipped 0.8% to $48.50, having earlier peaked at $50.56
- A filing revealed that CEO Olivier Le Peuch offloaded 25,000 shares at $50.40 each.
- Oilfield-services stocks climbed after crude prices surged amid U.S.-Iran tensions
Shares of SLB Ltd dropped roughly 0.8% to $48.50 in Thursday afternoon trading, following CEO Olivier Le Peuch’s announcement of a stock sale. The stock had risen to a high of $50.56 earlier before slipping back to a low near $48.37.
Timing is crucial here, as energy investors have been relying heavily on two factors: crude prices and international spending, especially across the Middle East. Even if an insider sale is planned, it can rattle traders—especially following a steep rally.
Oil’s uptick might have offered support. Brent surged to roughly $70.90 a barrel, while U.S. crude climbed near $65.56 amid worries Washington could target Iran—adding new tension to a market already jittery over supply threats.
Le Peuch offloaded 25,000 shares on Jan. 28 at $50.40 apiece, according to a U.S. Securities and Exchange Commission Form 4 filing. The document noted the sale took place under a Rule 10b5-1 trading plan established on March 25, 2025, leaving him with 1,459,044 shares.
Just a day before, SLB announced it secured two five-year contracts with Petroleum Development Oman to provide wellheads and artificial lift technologies for Block-6, Oman’s biggest oil and gas concession. “These awards reflect our deep commitment to Oman’s energy future,” said Jesus Lamas, SLB’s president for Middle East and North Africa, in a statement. SLB
Artificial lift refers to equipment, typically pumps, that bring fluids to the surface and sustain well production as reservoir pressure drops. SLB announced plans to provide electric submersible pumps and progressive cavity pumps in Oman, along with expanding local manufacturing and assembly operations.
SLB’s stock fell 3.5% Wednesday, breaking a two-day winning streak and sitting roughly 5% under the 52-week high it reached last week. Volume outpaced the recent 50-day average, according to MarketWatch.
The stock dipped after SLB beat quarterly profit forecasts last week and announced plans to return over $4 billion to shareholders in 2026 via dividends and buybacks, Reuters reported.
That said, the Oman contract lacks any disclosed financial details, and it can take a while before such wins boost margins—especially when pricing pressure is high. Crude’s spike on geopolitical news often proves short-lived, with energy services stocks typically shedding gains once the headlines die down.
Friday’s Baker Hughes rig count, due out at noon Central time, will be closely monitored for signals on U.S. drilling activity—an important gauge for demand in North American oilfield services.
