SLB stock falls 3.34 percent after Rovuma LNG contract news

Published on 09/29/2026 at 20:34 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

SLB stock has a UBS target of USD 75.00 after a September 14, 2026 increase from USD 72.00. Q2 revenue reached USD 8.97 billion, with results scheduled for October 23, 2026.

SLB, AN8068571086, Illustration mit AI erstellt.

SLB (ISIN AN8068571086) was trading at EUR 44.03 at Lang & Schwarz on September 29, 2026 at 8:30 p.m. CEST, down 3.34 percent versus the prior close of EUR 45.55. The decline came as the company announced a new subsea contract while investors looked toward the next quarterly update.

Rovuma contract adds order visibility

On September 29, 2026, OneSubsea reported that its joint venture with SLB won a contract from ExxonMobil Moçambique for the first phase of the offshore Rovuma LNG project in Mozambique.

The scope covers subsea trees, manifolds, umbilicals, control systems and installation support. The project also includes plans for a services base in Mozambique, giving the award an operating footprint beyond the initial equipment delivery.

Second-quarter figures set the baseline

SLB reported USD 8.97 billion in second-quarter 2026 revenue, adjusted EPS of USD 0.55, GAAP EPS of USD 0.52 and adjusted EBITDA of USD 1.90 billion. Cash flow from operations was USD 1.36 billion in the same quarter.

MarketBeat said the adjusted EPS result exceeded consensus of USD 0.51 by USD 0.04, while revenue surpassed the USD 8.67 billion estimate by USD 0.30 billion. That comparison makes execution against expectations more important than the contract headline alone.

UBS target stays above the quote

On September 14, 2026, UBS analyst Josh Silverstein maintained a Buy rating and lifted the price target from USD 72.00 to USD 75.00, as reported by Futu News. The target lies 50.78 percent above the Lang & Schwarz price, but the currencies and venues differ, so the comparison is directional rather than a same-venue return calculation.

SLB's next scheduled checkpoint is October 23, 2026. SLB said the company will discuss third-quarter results for the period ending September 30, 2026, with a press release due at 7:00 a.m. U.S. Eastern time and the conference call at 9:30 a.m. U.S. Eastern time.

SLB stock ends September lower

SLB was trading at EUR 44.03 at Lang & Schwarz on September 29, 2026 at 8:30 p.m. CEST, down 3.34 percent against the Lang & Schwarz prior close of EUR 45.55. The primary listing is on the NYSE, where the finance quote showed USD 49.96 at 2:32 p.m. EDT on September 29, 2026.