Ken Griffin built his spectacular reputation as an investor early in life, founding Citadel Advisors when he was simply 22, with $4.6 million in seed cash. By 2003, when he became the youngest self-made billionaire on the Forbes 400 list, his hedge fund managed nicely over $1 billion in funding capital. In the present day, Griffin’s Chicago-primarily based fund holds $212 billion in equity belongings under management.
Within the third-quarter, Citadel made 9-digit purchases in three particularly interesting stocks. All three are rated Strong Buys within the TipRanks database, and all three show unique combinations of strengths and weaknesses.
America’s oil and gas business has generated a slew of headlines and rightly so, for the elevated oil and gas drilling – throughout the continent – pushed the US into the highest spot amongst international oil producers six years in the past. Drilling, nonetheless, is just one of many oil-associated industries that have benefited. An entire service sector has developed to assist oil and gas operations, and Baker Hughes in a major participant in it.
BKR offers the services that drilling firms want to finish their operations, from evaluating geological formations to completing the wells. The corporate offers in tools, equipment, and IoT expertise for one of many nation’s most essential economic sectors. The size of Baker Hughes’ operations is evident from the corporate’s gross sales numbers – in fiscal 2018, BKR introduced in over $22.8 billion in revenues.
Between the month of July 2017 and September 2019, BKR was affiliated with General Electric in a merger. Earlier this year, nonetheless, GE had divested itself of the controlling interest in BKR, and Baker Hughes was an independent company once again before the top of September.