Douglas Terreson
ISI Group
First-place appearances: 4

Total appearances: 21

Analyst debut: 1995

Slipping one notch to third place is ISI Group’s Douglas Terreson, who “has a firmly held view, along with the confidence to keep it when others capitulate,” declares one advocate. Terreson is upbeat on the prospects for the integrated oil sector, which he says continues to enjoy “outstanding financial strength and flexibility.” The Fairhope, Alabama–based analyst asserts that “oil prices and refining margins will remain healthy, and prices for natural gas will rise from low levels.” He further points out that “most major new projects hold higher returns, so financial performance should improve,” even though the profitability of the integrated oil companies has deteriorated in recent years. His recommendations are centered on the smaller integrated names — such as Houston’s ConocoPhillips, New York–based Hess Corp. and Occidental Petroleum Corp. of Los Angeles — because they have “implemented significant repositioning programs in recent years, and their growth and returns profiles are stronger. Valuations should improve as a result, rewarding shareholders,” Terreson explains. — Carolyn Koo