Bill Baruch, Founder and President of Blue Line Capital, disclosed on CNBC’s Halftime Report that he increased his firm’s weighting in SLB by approximately 2 percentage points, raising his total holding to just over 7% of the portfolio. This adjustment was part of a broader energy sector overhaul in which Baruch reduced exposure to telecom names and redeployed capital into energy infrastructure names. He cited SLB’s diversified service offerings and strong international backlog—estimated at $10 billion entering the second quarter—as key drivers for the decision. The repositioning reflects Baruch’s view that sustained offshore drilling activity and deepwater project awards will underpin SLB’s revenue growth through year-end.

In the most recent trading session, SLB shares rose by 1.66% even as the broader market slipped by 0.8%. Trading volume reached 8.2 million shares, about 35% above the three-month daily average, underscoring heightened investor interest. Analysts at Raymond James and Evercore both raised their 12-month target on SLB earlier this week, citing margin expansion in the completion services segment and improving equipment utilization rates. For income-focused investors, SLB’s dividend yield remains one of the highest in the sector, bolstering its appeal amid continued volatility in oil prices and capital expenditure cycles.