New York, January 27, 2026, 15:05 EST — Regular session
- SLB shares were up about 1.5% at $50.46 in afternoon trading, after ranging from $49.53 to $51.45.
- Freedom Capital Markets cut SLB to “sell” with a $48 price target, below where the stock is trading.
- A regulatory filing showed an SLB officer plans to sell up to 60,000 shares under SEC Rule 144.
SLB (NYSE: SLB) shares rose about 1.5% to $50.46 on Tuesday afternoon, outpacing a mixed tape in oilfield services as traders weighed a new downgrade against firmer crude prices.
Freedom Capital Markets downgraded SLB to “sell” from “hold” and nudged its price target to $48 from $47, a target that sits below the current share price. A price target is the analyst’s estimate of where the stock should trade, typically over the next 12 months. (Investing)
The timing matters. SLB has been trading near its recent highs, and any shift in drilling expectations can move sentiment quickly for oilfield services names, which live and die on producers’ spending plans.
Crude gave the group a tailwind. Oil prices rose more than $1 a barrel earlier on Tuesday after a winter storm curbed U.S. output, while traders also looked ahead to an OPEC+ meeting on Feb. 1. “The cold weather in the U.S. will likely cause quite significant drawdowns in oil stocks over the next few weeks, particularly if this weather persists,” said Tamas Varga, an analyst at PVM. (Reuters)
Peers were uneven. Halliburton was down about 0.2% and Baker Hughes was little changed, while NOV gained about 2%.
A separate filing added another headline for investors to chew on. Merad Abdellah, listed as an officer of SLB, filed a Form 144 that showed a proposed sale of up to 60,000 shares, with an aggregate market value of about $3.0 million, through Fidelity Brokerage Services on the NYSE. Form 144 is a notice required under SEC Rule 144 for certain insider sales; it does not mean the shares have already been sold. (Streetinsider)
The stock is still digesting last week’s quarterly update. SLB topped fourth-quarter profit estimates, raised its dividend and flagged more than $4 billion of shareholder returns in 2026, while CEO Olivier Le Peuch also told investors North America land activity would continue to decline year on year. (Reuters)
On the geopolitical front, oilfield services firms have been watching Venezuela after the U.S. removed President Nicolas Maduro earlier this month. Baker Hughes CEO Lorenzo Simonelli said the company is “taking a prudent long-term view” as it evaluates opportunities there, and Reuters reported SLB and Halliburton are also eyeing a return under the right licensing and safety conditions. (Reuters)
But the near-term setup cuts both ways. If crude prices cool once storm disruptions fade, or if global drilling activity stays soft longer than expected, oilfield services pricing and earnings expectations can slip quickly — especially for stocks trading close to recent highs.
Traders will watch Friday’s U.S. rig count for the next read on drilling momentum, and the Feb. 1 OPEC+ meeting for any surprise that could move oil prices and, by extension, the tone in energy services.
