Insider Activity Report: Baker Hughes (BKR)

William Beattie, a director at Baker Hughes (BKR), recently bought 4,000 shares. The buy increased the director’s stake by 30 percent, and came to a total cost of $89,368.

  • Special: See What One Ticker... One Trade... EVERY WEEK...Can Do for YOU
  • This is the first insider buy since July 2022, when another company director bought 10,000 shares at a similar price. Otherwise, company executives have been regular sellers of shares, mostly following the exercise of stock options.

    Overall, Baker Hughes insiders own 0.1 percent of shares.

    The oil and gas equipment services company is up 18 percent over the past year, slightly lagging the overall market.

    Revenues are up 24 percent, but earnings have been down overall, as oil prices have been trending lower over the past few months and are off their highs from 2022. Baker Hughes trades at 16 times forward earnings.

  • Special: Legendary CBOE Trader Reveals: Make This ONE Trade Every Time The Government Drops Economic Reports
  • Action to take: Investors can get shares at a reasonable valuation here. And shares yield 2.4 percent here, with a history of increasing dividend payouts over time. Investors may want to accumulate shares as long as oil stays under $75.

    For traders, shares have been rangebound over the past six months, with shares trending to the higher end of the range.

    The April 2024 $37 calls, last going for about $1.20, could see mid-double-digit returns on a move to the higher end of the range.


    Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.

  • Special: See What One Ticker... One Trade... EVERY WEEK...Can Do for YOU