Benjamin Dell Sanford C. Bernstein
second team Thomas Driscoll Barclays
third team Jonathan Wolff Credit Suisse
Holding steady in first place for a second consecutive year is Benjamin Dell, 32; the Sanford C. Bernstein analyst is also No. 3 in Natural Gas. Dell’s best performers of the past year include Houston-based Newfield Exploration Co. and Anadarko Petroleum Corp. of Woodlands, Texas. Both stocks were long-standing buy recommendations reiterated in February, at $19.84 and $35.82, respectively, on improving profitability. By late August the shares had soared 95 and 47.3 percent, respectively, to $38.69 and $52.78. Allies say Dell is “prolific” and “always brings new thoughts to the discussion.”
Thomas Driscoll of Barclays Capital vaults from runner-up to second. Unique valuation metrics such as Driscoll’s debt-adjusted production and debt-adjusted cash-flow growth analyses “are now a key focus for both investors and managements,” explains one satisfied client. In August 2008, Driscoll turned bearish on natural gas, correctly anticipating that prices would fall, and steered clients toward companies with less exposure to the U.S. gas market, such as Apache Corp. and Noble Energy. Shares of the Houston-based companies bested the sector by 7.2 and 17.9 percentage points, respectively, through August 2009.
Rising one rung to third place is Jonathan Wolff, who “takes a skeptical, value-minded approach to stock picking that prevents him from getting caught up in hype,” says one buy-side admirer. Supporters still cheer the Credit Suisse analyst’s long-held buy on Range Resources Corp. of Fort Worth, Texas, recommended way back in 2005 and highlighted repeatedly since, on strong cash flow. The stock shot up 40.7 percent year-to-date through August, outpacing the sector by 10.6 percentage points.
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