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Season steaks with salt and let sit at room temperature 30 minutes.
Meanwhile, place peppercorns in a plastic bag and coarsely crack with a meat mallet or rolling pin.
Transfer peppercorns to a plate.
Lightly pat steaks dry and coat both sides of each steak with peppercorns, pressing to adhere.
Heat a medium skillet, preferably cast-iron, over medium-high.
Swirl in oil and cook steaks, turning once, until internal temperature reads 135 degrees (for medium-rare), 6 to 8 minutes total.
Transfer to a plate and tent with foil.
Discard fat from pan.
Add butter and shallots and cook, stirring often, until shallots soften and begin to brown, 1 to 2 minutes.
Carefully add cognac and cook, scraping up any bits from the bottom of pan, until almost evaporated, 3 minutes.
Add Worcestershire and stock and simmer until reduced by half (to about ⅓ cup), 4 to 5 minutes.
Add cream and cook until heated through and thickened slightly, about 1 minute more.
Slice steaks against the grain, divide between two plates, and top with sauce.