Baker Hughes Co (BKR:US)
12-month performance: -38%
Insider activity: Bullish
Insider buying pattern: Large purchases from CEO
Recent news: Released August Rig Count report
Top-level corporate executives tend to have the most up-to-date information on their companies’ prospects. If these insiders are buying company stock, it’s generally a bullish development.
In this article, we are going to highlight some interesting insider buying at Baker Hughes Co (BKR:US). Baker Hughes is one of the world’s largest oilfield services companies. It is listed on the New York Stock Exchange and currently has a market capitalization of $15.0 billion.
What has caught our attention here is a large purchase from Chairman and CEO Lorenzo Simonelli. Form 4 SEC filings show that on 2 September, the insider purchased 71,275 shares at a price of $14.12 per share. The total cost of the purchase was $1.01 million. 
Source: 2iQ Research
This insider purchase stands out to us for a number of reasons. Firstly, it’s a top-level insider that has bought stock. Simonelli was named Chairman in October 2017 and has been President and CEO since the Company’s creation in 2017, where he oversaw the successful merger of GE Oil & Gas with Baker Hughes Inc. He is likely to have an excellent understanding of the oilfield services company and its future prospects.
Secondly, it’s a large transaction both in nominal and relative terms. This purchase – which has increased the size of Simonelli’s holding in Baker Hughes by 33% – is the largest single insider purchase for a number of years.
