Baker Hughes: Exec Insiders and Funds Selling Shares in Quarterly Release

Insiders are generally long-term investors due to restriction in making short-term profits. In contrast, wealth management institutions always have short-term investment. Wall St. Watchdog reveals information regarding the insiders and institutions which recently decreased stock shares of Baker Hughes Incorporated (NYSE:BHI).

SEC data indicate these insiders have sold Baker Hughes Incorporated’s stock since 06/30/2011:

  • Deaton Chad C: act as Chairman and CEO. On 07/19/2011, sold 50,000 shares, worth $3,850,500.
  • Deaton Chad C: act as Chairman and CEO. On 07/25/2011, sold 27,653 shares, worth $2,212,200.
  • Craighead Martin S: act as President & COO. On 07/25/2011, sold 21,100 shares, worth $1,688,000.
  • Crain Alan R Jr: act as Sr Vice President. On 07/22/2011, sold 7,982 shares, worth $636,200.
  • Charreton Didier: act as Vice President. On 11/18/2011, sold 1,576 shares, worth $87,300.

SEC data indicate that these institutions significantly reduced their stock shares of Baker Hughes Incorporated in Q3 2011:

  • CAPITAL GROWTH MANAGEMENT LP: On 06/30/2011, held 2,487,300 shares, worth $179,607,933. On 09/30/2011, held 0 shares.
  • CRAMER ROSENTHAL MCGLYNN LLC: On 06/30/2011, held 597,295 shares, worth $43,130,672. On 09/30/2011, held 0 shares.
  • SIR CAPITAL MANAGEMENT, L.P.: On 06/30/2011, held 359,900 shares, worth $25,988,379. On 09/30/2011, held 0 shares.
  • GOODMAN & COMPANY, INVESTMENT COUNSEL LTD.: On 06/30/2011, held 355,770 shares, worth $25,690,152. On 09/30/2011, held 0 shares.
  • WEINTRAUB CAPITAL MANAGEMENT, L.P.: On 06/30/2011, held 275,000 shares, worth $19,857,750. On 09/30/2011, held 0 shares.

About the company: Baker Hughes Incorporated supplies reservoir-centered products, services, and systems to the worldwide oil and gas industry. The Company provides products and services for oil and gas exploration, drilling, completion, and production. Baker Hughes also manufactures and markets a variety of roller cutter bits and fixed cutter diamond bits.

Competitors to Watch: National-Oilwell Varco, Inc. (NYSE:NOV), Weatherford Intl. Ltd. (NYSE:WFT), Newpark Resources, Inc. (NYSE:NR), Halliburton Company (NYSE:HAL), Flotek Industries, Inc. (NYSE:FTK), Oil States Intl., Inc. (NYSE:OIS), Schlumberger Limited. (NYSE:SLB), Bolt Technology Corp. (NASDAQ:BOLT), Cameron Intl. Corp. (NYSE:CAM), and Lufkin Industries, Inc. (NASDAQ:LUFK).

(Note: Data regarding Baker Hughes Incorporated’s stock holdings are sourced from whalewisdom.com. All data are assumed to be accurate.)

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To contact the reporter on this story: Dave Friedman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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