Shares of SLB advanced after the oilfield services giant announced a $2.3 billion stock buyback, bumped dividend payouts higher and reported quarterly earnings that topped Wall Street views.

SLB raised its dividend by 3.6% and initiated $2.3 billion in accelerated share repurchase, boosting shareholder returns. SLB Q4 revenue grew 3% to $9.28 billion, exceeding estimates, with strong ...