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Insider Trading

Slb Limited/nv Insider Sold Shares Worth $2,998,766, According to a Recent SEC Filing

Steve Matthew Gassen, Executive Vice President of Geographies, on May 01, 2026, sold 53,379 shares in Slb Limited/nv (SLB) for $2,998,766. Following the Form 4 filing with the SEC, Gassen has control over a total of 53,160 common shares of the company, with 47,421 shares held directly and 5,739 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/87347/000008734726000110/xslF345X05/form4.xml

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Wire

Raymond James Adjusts SLB Price Target to $62 From $58

SLB (SLB) has an average rating of overweight and mean price target of $60.86, according to analysts polled by FactSet.Price: $56.69, Change: $+0.98, Percent Change: +1.77%

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Wire

Citigroup Adjusts SLB Price Target to $68 From $59

SLB (SLB) has an average rating of overweight and mean price target of $60.86, according to analysts polled by FactSet.Price: $56.67, Change: $+0.97, Percent Change: +1.74%

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Insider Trading

SLB Insider Sold Shares Worth $1,412,000, According to a Recent SEC Filing

Olivier Le Peuch, Director, Chief Executive Officer, on April 29, 2026, sold 25,000 shares in SLB (SLB) for $1,412,000. Following the Form 4 filing with the SEC, Le Peuch has control over a total of 1,391,328 common shares of the company, with 1,391,328 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/87347/000008734726000075/xslF345X05/form4.xml

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Research

Zephirin Raises Price Target on SLB to $43 From $41, Keeps Sell Rating, Medium Risk

SLB (SLB) has an average rating of overweight and mean price target of $59.78 according to analysts polled by FactSet.

$SLB
Wire

SLB's Softer Q2 Guide is due to Incremental Impact From Middle East Disruptions, RBC Says

SLB's (SLB) softer Q2 guidance is due to incremental impact from Middle East disruptions, but markets continue to focus on the scope of higher service demand exiting the conflict, RBC Capital Markets said in a Friday research report.The brokerage anticipates 2026 free cash flow of $3.9 billion, given that SLB expects to spend $2.5 billion of capital this year, which could prompt the company to return all of its FCF to shareholders in 2026.For Q2, RBC guided for EPS of $0.53 on revenue of $8.7 billion, according to the note.The brokerage reiterated its outperform rating on the stock and price target of $61 per share.Price: $55.53, Change: $-0.63, Percent Change: -1.11%

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Wire

SLB's Production Exposure, Data Center Solutions, Digital Segment to Support Earnings in 2026, Morgan Stanley Says

SLB's (SLB) production-focused exposure, growth in Data Center Solutions, and its Digital segment will support earnings durability in 2026, with additional leverage to recovery in 2027 to 2028, Morgan Stanley said Monday.Management framed Q1 as a disruptive reset rather than a demand issue, with Middle East outages weighing on short-term results but not the underlying upcycle, the brokerage said.SLB forecasts a gradual recovery in the Middle East, with restoration activity a near-term driver followed by capacity expansion to replenish lost supply, according to the note.Management expects mid-to-high single digit international growth excluding the Middle East in Q2, with strength across multiple basins countering regional declines, the brokerage added.For full-year 2026, SLB reiterated its capital investment plan of about $2.5 billion and shareholder returns of more than $4 billion despite short-term volatility, with growth led by international markets, as well as digital and production-oriented businesses, according to the note.Morgan Stanley maintained an overweight rating on SLB and raised the price target to $57 from $55.Price: $55.61, Change: $-0.55, Percent Change: -0.97%

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Wire

Sector Update: Energy Stocks Softer Late Afternoon

Energy stocks declined late Friday afternoon, with the NYSE Energy Sector Index shedding 0.7% and the State Street Energy Select Sector SPDR ETF (XLE) decreasing 0.2%.The Philadelphia Oil Service Sector Index rose 1.8%, and the Dow Jones US Utilities Index added 0.1%.West Texas Intermediate crude oil fell 1.2% to $94.68 a barrel, and global benchmark Brent rose 0.5% to $105.64 a barrel. Henry Hub natural gas futures shed 3.7% to $2.52 per 1 million BTU.In corporate news, TotalEnergies (TTE) secured financing for its Mirny onshore wind and battery energy storage system project in southeast Kazakhstan. The stock fell 0.7%.X-Energy (XE) shares jumped 27% following their debut on Nasdaq.SLB (SLB) reported mixed Q1 results, reflecting headwinds from the Middle East conflict. The shares rose 2.8% as revenue topped estimates, while earnings fell.BP (BP) and Repsol have been accused of anti-competitive practices in a complaint filed with the European Commission by Spanish fuel wholesaler Hatta Energy, Bloomberg reported. BP shares were down 0.4%.

$BP$SLB$TTE$XE
Research

Research Alert: CFRA Keeps Hold Opinion On Shares Of Slb N.v.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Our 12-month target price of $58, raised $7, reflects a combination of relative valuation and DCF models. On a relative basis, we apply a 9x multiple of enterprise value to projected 2027 EBITDA, about in line with SLB's historical forward average. This approach yields a value of $52 per share. Our DCF model, using medium-term free cash flow growth of 6% per year, 2.5% thereafter, discounted at a WACC of 7.3%, yields a value of $64 per share. The ongoing war in the Middle East is a source of near-term headwinds for SLB, including a projected $0.06 per-share impact in Q2 (our forecast: management cited a range of $0.06-$0.08 per share). In the longer term, we expect demand for oilfield services in the Middle East to bounce back, and SLB remains the preeminent oil services name in the region. We cut our 2026 EPS estimate by $0.58 to $2.21 but lift 2027's by $0.05 to $3.05. SLB also noted rising interest in deepwater activity, which bodes well for 2027 onward we think.

$SLB
Wire

Sector Update: Energy Stocks Lower in Afternoon Trading

Energy stocks declined Friday afternoon, with the NYSE Energy Sector Index shedding 1.2% and the State Street Energy Select Sector SPDR ETF (XLE) decreasing 0.8%.The Philadelphia Oil Service Sector Index rose 1.8%, and the Dow Jones US Utilities Index added 0.2%Crude oil futures dropped following reports that Iran's Foreign Minister Abbas Araghchi and President Donald Trump's envoys will arrive in Pakistan for peace talks this weekend. Araghchi, the main mediator between Tehran and Washington, is set to arrive in Islamabad with a small delegation, Pakistani government sources and an Iranian source told CNN. Pakistan is brokering the talks between Washington and Tehran, seeking an end to the war in Iran and a reopening of the Strait of Hormuz.West Texas Intermediate crude oil fell 2% to $93.92 a barrel, and global benchmark Brent eased 0.2% to $104.85 a barrel. Henry Hub natural gas futures declined 3.3% to $2.53 per 1 million BTU.In corporate news, X-Energy (XE) shares were up 26% following their debut on Nasdaq.SLB (SLB) reported mixed Q1 results, reflecting headwinds from the Middle East conflict. The shares rose 3.8% as revenue topped estimates, while earnings fell.BP (BP) and Repsol have been accused of anti-competitive practices in a complaint filed with the European Commission by Spanish fuel wholesaler Hatta Energy, Bloomberg reported. BP shares were down 0.8%.

$BP$SLB$XE
Sectors

Sector Update: Energy

Energy stocks fell Friday afternoon with the NYSE Energy Sector Index shedding 1.2% and the State Street Energy Select Sector SPDR ETF (XLE) declining 0.8%.The Philadelphia Oil Service Sector Index rose 1.8%, and the Dow Jones US Utilities Index eased 0.1%West Texas Intermediate crude oil fell 2.3% to $93.64 a barrel, and global benchmark Brent dropped 0.4% to $104.63 a barrel. Henry Hub natural gas futures declined 3.2% to $2.53 per 1 million BTU.In corporate news, SLB (SLB) reported mixed Q1 results, reflecting headwinds from the Middle East conflict. The shares rose 3.5% as revenue topped estimates, while earnings fell.

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US Markets

SLB Posts Mixed Results Amid Headwinds From Middle East Conflict

SLB (SLB) reported mixed first-quarter results year-over-year on Friday, reflecting headwinds from the Middle East conflict.The oilfield services company's adjusted per-share earnings fell to $0.52 for the March quarter from $0.72 a year earlier, while analysts in a FactSet poll expected $0.51. Revenue grew 3% to $8.72 billion and surpassed Wall Street's $8.63 billion estimate."It was a challenging start to the year as widespread disruptions in the Middle East impacted our business," Chief Executive Olivier Le Peuch said in a statement. "The impact was most pronounced in well construction and reservoir performance, as SLB demobilized operations in a number of countries in response to customer actions to safeguard personnel and facilities."Revenue in the well construction segment contracted 6% year over year to $2.8 billion, though it exceeded the consensus of $2.62 billion. The reservoir performance division's revenue dropped 6% to $1.59 billion. Digital revenue increased 9%, while production systems surged 23% to $3.51 billion."Beyond the Middle East, revenue increased year on year in all other markets driven mainly by the impact of our strategic moves regarding ChampionX, digital, and data center solutions," said Le Peuch. SLB, formerly known as Schlumberger, acquired rival ChampionX last year.An extended ceasefire between the US and Iran following weeks of hostilities continues to hold. President Donald Trump said Thursday that the ceasefire between Israel and Lebanon will also be extended. The conflict between Israel and Hezbollah in Lebanon has been one of the sticking points in US-Iran peace efforts."We entered 2026 anticipating that global liquid supply and demand would gradually rebalance throughout the year and into 2027," Le Peuch said. "However, the conflict in the Middle East has accelerated this rebalancing while exposing critical vulnerabilities in the global energy supply chain."SLB's New York Stock Exchange-listed shares rose 2.4% in Friday trade. The stock has surged 46% since the start of the year."We expect post-conflict liquid commodity prices to remain above pre-conflict levels," Le Peuch said. "This reflects the near-term supply disruptions caused by infrastructure impairments, production impacts, and geopolitical risk premium."Price: $56.17, Change: $+1.43, Percent Change: +2.60%

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Sectors

Sector Update: Energy Stocks Lean Lower Premarket Friday

Energy stocks were leaning lower premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 0.8%.The United States Oil Fund (USO) was down 1.4% and The United States Natural Gas Fund (UNG) was 1.5% lower.Front-month US West Texas Intermediate crude oil was 0.4% lower at $95.45 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 0.2% to reach $105.28 per barrel, and natural gas futures were up 1% at $2.67 per 1 million British Thermal Units.SLB (SLB) shares were down more than 1% after the company reported lower Q1 adjusted earnings.Eni (E) stock was 0.2% lower after the company posted a decline in Q1 net profit.TotalEnergies (TTE) has secured financing for its Mirny onshore wind and battery energy storage system project in southeast Kazakhstan, the company said. TotalEnergies shares were marginally lower premarket.

$E$SLB$TTE$UNG$USO$XLE
Sectors

Sector Update: Energy

Energy stocks were leaning lower premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 0.8%.The United States Oil Fund (USO) was down 0.9% and the United States Natural Gas Fund (UNG) was 1.6% lower.Front-month US West Texas Intermediate crude oil was 0.3% higher at $96.12 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.7% to $105.85 per barrel, and natural gas futures were down 2% at $2.56 per 1 million British Thermal Units.SLB (SLB) shares were down 1.8% after the company reported a decline in Q1 adjusted earnings.

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Commodities

Exchange-Traded Funds Rise, Equity Futures Mixed Pre-Bell as Traders Assess Tech Earnings Amid Global Uncertainty

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.4% and the actively traded Invesco QQQ Trust (QQQ) was 1.3% higher in Friday's premarket activity as investors assess technology companies' earnings while global uncertainty persists amid the Middle East conflict.US stock futures were mixed, with S&P 500 Index futures up 0.4%, Dow Jones Industrial Average futures slipping 0.1%, and Nasdaq futures gaining 1.3% before the start of regular trading.The University of Michigan consumer sentiment report for the current month is scheduled to be released at 10 am ET, while the weekly Baker Hughes domestic oil-and-gas rig count is due at 1 pm ET.In premarket activity, bitcoin was up by 0.7%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.6% higher, Ether ETF (EETH) advanced 0.6%, and Bitcoin & Ether Market Cap Weight ETF (BETH) declined by 0.02%.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated by 0.5%, the Vanguard Health Care Index Fund (VHT) was down 0.1%, while the iShares US Healthcare ETF (IYH) was 0.1% lower. The iShares Biotechnology ETF (IBB) was 0.5% higher.Organon (OGN) shares were up 29% in Friday's premarket activity, a day after a media report that India's Sun Pharmaceutical Industries was planning a $13 billion bid for Organon.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced by 2.1%, and the iShares US Technology ETF (IYW) was 1.7% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 2.3%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was 4.2% higher, while the iShares Semiconductor ETF (SOXX) rose by 4.1%.Intel (INTC) stock was 28% higher pre-bell Friday after the company reported overnight higher fiscal Q1 adjusted earnings and revenue in addition to providing fiscal Q2 outlook that surpassed analyst estimates.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.1% and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 0.1%. The iShares US Consumer Staples ETF (IYK) was 0.04% higher and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.8%. The VanEck Retail ETF (RTH) and the State Street SPDR S&P Retail ETF (XRT) were flat.Coursera (COUR) stock was 16% lower before the opening bell on Friday after the company reported overnight lower Q1 non-GAAP earnings that also trailed analysts' estimates.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) slipped 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.9%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.1% higher.Hartford Insurance Group (HIG) shares were down 4.4% before Friday's bell, a day after the company posted lower-than-expected Q1 core earnings and revenue.EnergyThe iShares US Energy ETF (IYE) retreated by 1%, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 1.1%.SLB (SLB) shares were down 3.7% before Friday's bell after the company posted lower Q1 adjusted earnings.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated by 0.7%, while the Vanguard Industrials Index Fund (VIS) was 0.2% lower and the iShares US Industrials ETF (IYJ) was flat.Norfolk Southern (NSC) shares were down 1.1% before the opening bell Friday after the company reported lower Q1 adjusted EPS.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 1.3% to $94.63 per barrel on the New York Mercantile Exchange. Natural gas declined by 2.4% to $2.70 per 1 million British Thermal Units. The United States Oil Fund (USO) decreased by 1.4%, while the United States Natural Gas Fund (UNG) was 1.7% lower.Gold futures for May were down by 0.1% at $4,721.50 an ounce on the Comex. Silver futures gained by 0.9% to reach $76.17 an ounce. SPDR Gold Shares (GLD) was 0.4% higher, and the iShares Silver Trust (SLV) advanced by 0.5%.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$COUR$EEM$EETH$EXI$FAS$FAZ$GLD$HIG$IBB$IGM$IGV$INTC$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$NSC$OGN$PMR$QQQ$RTH$SLB$SLV$SOXX$SPY$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Research

Research Alert: Slb Q1 Results In-line, But Middle East Headwinds Weigh On Outlook

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:SLB's Q1 adjusted EPS of $0.52 matched consensus but declined from $0.72 in the prior year, while revenues advanced 3% to $8.72B, although organic revenues fell 7%. The ChampionX acquisition contributed $838M in revenues and strengthened SLB's position in production chemicals and artificial lift, with Production Systems revenue rising 23% to $3.51B; however, excluding ChampionX this segment would have declined 6%. SLB expects a broad-based oilfield recovery in 2027-2028, conditional on no prolonged Middle East conflict or economic slowdown. The adjusted EBITDA margin compressed 360 bps to 20.3% from 23.8% in the prior year, with the Middle East/Asia revenue share dropping to 31% from 35% and regional revenues declining 10% due to operational disruptions from the conflict. We think the recovery timeline is somewhat optimistic, but we agree 2026 will be challenging for oilfield services, especially in the Middle East, although Latin America remains strong at 17.5% of total revenues.

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US Markets

Stocks Mostly Up Pre-Bell as Israel, Lebanon Agree to Extend Ceasefire

The benchmark US stock measures were mostly pointing higher before the open Friday as President Donald Trump announced an extension of the ceasefire between Israel and Lebanon.The S&P 500 edged up 0.1% and the Nasdaq increased 0.9%, while the Dow Jones Industrial Average declined 0.3%. The indexes finished the previous trading session lower.In a social media post on Thursday, Trump said the ceasefire between Israel and Lebanon will be extended by three weeks after representatives from the two countries met at the White House. Trump announced a 10-day ceasefire between Israel and Lebanon last week."The meeting went very well!" Trump wrote. "The United States is going to work with Lebanon in order to help it protect itself from Hezbollah."The conflict between Israel and Hezbollah in Lebanon has been a key sticking point in US-Iran peace efforts, which are showing no apparent signs of progress."Hopes for a resolution between the US and Iran are fading as peace talks stall," ING Bank said in a Thursday report. "If no progress is made, the market will become increasingly numb to the noise and headlines that have dictated price action recently."Trump on Thursday ordered the US navy to "shoot and kill any boat" placing mines in the Strait of Hormuz. Separately, the US leader claimed that the US has "total control" over the key oil supply chokepoint.Trump extended a ceasefire with Iran earlier in the week, though he said the naval blockade of Iranian ports would continue. Iran's Islamic Revolutionary Guard Corps on Wednesday reportedly seized two tankers attempting to cross the Strait of Hormuz.West Texas Intermediate crude oil rose 1.3% to $97.08 a barrel before the opening bell, while Brent gained 1.6% to $106.76.Treasury yields were trending upwards in premarket action, with the two-year rate increasing 1.5 basis points to 3.84% and the 10-year rate adding 0.8 basis points to 4.33%.Shares of Intel (INTC) jumped 27% pre-bell after the chipmaker reported first-quarter results above Wall Street's estimates. Advanced Micro Devices (AMD) climbed 11% while Lucid (LCID) rebounded 0.4% following a 9.3% drop at the close of Thursday.Procter & Gamble (PG), HCA Healthcare (HCA), SLB (SLB) and Charter Communications (CHTR) report their latest financial results before the bell, among others.Friday's economic calendar has the final University of Michigan consumer sentiment report for April at 10 am ET, followed by the weekly Baker Hughes oil-and-gas rig count at 1 pm.Gold declined 0.6% to $4,695 per troy ounce, while bitcoin was slightly up at $77,789.

Dow JonesNasdaq CompositeS&P 500$AMD$CHTR$HCA$INTC$LCID$PG$SLB
Oil & Energy

Middle East Rig Count Dropped in March, RBC Says

Middle East onshore rig counts fell by 43 rigs, or 5% over the month in March, while offshore counts declined by 10 rigs, or 4%, RBC Capital Markets strategists said in a Tuesday note.These disruptions, along with higher logistics and staffing costs, are expected to pressure first-half results for companies with regional exposure, RBC said.In the US, Q1 rig counts totaled 530, down 7% over the year but above RBC's estimate of 518, prompting an upward revision to its 2026 forecast to 544 from 526.RBC expects activity to remain supported by higher oil prices, easing concerns about a potential drop in West Texas Intermediate crude to $50 per barrel coming into 2026.In Canada, rig counts reached 216, down 4% over the year but slightly above RBC's estimate of 214, with spending expected to remain broadly flat, RBC said.Meanwhile, oilfield services stocks have surged about 36% in 2026, with valuations shifting higher as the sector heads into the Q1 earnings season, strategists said.RBC said Q1 reporting begins Apr. 21 with Halliburton (HAL), Saipem, and Weatherford (WFRD), as investors assess geopolitical risks and future production recovery trends, the report said.RBC said US-focused companies have outperformed peers with Middle East exposure this year, reflecting stronger domestic activity trends and fewer geopolitical disruptions.The firm's top picks include Schlumberger (SLB), Baker Hughes (BKR), TechnipFMC (FTI), Enerflex (EFXT), Patterson-UTI Energy (PTEN), Hunting and CES Energy Solutions, according to the note.Meanwhile, RBC lowered its Q1 EBITDA estimates by 2.4%, with the largest revisions for Schlumberger (SLB) and Trican Well Service (TCW), while raising forecasts for Saipem, TechnipFMC and Enerflex.The revised estimates generally fall below consensus, particularly for Trican Well Service, Atlas Energy Solutions (AESI) and Calfrac Well Services (CFW), while exceeding expectations for Halliburton, Enerflex and Ensign Energy Services, RBC said.RBC downgraded Trican Well Service to sector perform from outperform with a $7.50 price target and cut NOV (NOV) to sector perform from outperform with a $21 price target.

$AESI$BKR$EFXT$FTI$HAL$NOV$PTEN$SLB$WFRD

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