Here’s What Makes Baker Hughes (BKR) a Great Investment Choice

Carillon Tower Advisers, an investment management firm, published its “Carillon Eagle Mid Cap Growth Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. Mid-cap stocks overall posted solid gains in the final quarter of 2021. As was the case for the majority of the year, the Russell Midcap® Growth Index (up 2.85%) lagged behind its Russell Midcap® Value Index (up 8.54%) counterpart.  Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Carillon Eagle Mid Cap Growth Fund mentioned Baker Hughes Company (NYSE:BKR) and explained its insights for the company. Founded in 1987, Baker Hughes Company (NYSE:BKR) is a Houston, Texas-based international industrial oil service company with a $31.9 billion market capitalization. Baker Hughes Company (NYSE:BKR) delivered a 22.36% return since the beginning of the year, while its 12-month returns are up by 29.98%. The stock closed at $29.44 per share on June 27, 2022.

Here is what Carillon Eagle Mid Cap Growth Fund has to say about Baker Hughes Company (NYSE:BKR) in its Q1 2022 investor letter:

Baker Hughes (NYSE:BKR), a diversified energy technology and equipment company, is currently seeing a number of tailwinds across its numerous lines of business. In the near term, the company should benefit from the recovery in oil field capital expenditure. In the intermediate term, it also should be able to benefit from the build-out of liquefied natural gas infrastructure to assist European nations in their efforts to reduce their reliance on Russian natural gas. Additionally, Baker Hughes offers carbon capture technologies to help customers meet lofty climate-friendly targets.”

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Our calculations show that Baker Hughes Company (NYSE:BKR) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Baker Hughes Company (NYSE:BKR) was in 39 hedge fund portfolios at the end of the first quarter of 2022, compared to 35 funds in the previous quarter. Baker Hughes Company (NYSE:BKR) delivered a -20.43% return in the past 3 months.

In April 2022, we also shared another hedge fund’s views on Baker Hughes Company (NYSE:BKR) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

Disclosure: None. This article is originally published at Insider Monkey.