< The 2015 All-America Research Team
Robert Brackett
Sanford C. Bernstein & Co.
First-place appearances: 0
Total appearances: 2
Analyst debut: 2014
At No. 3 is Sanford C. Bernstein & Co.’s Robert Brackett, who rises from runner-up on this roster while earning his third straight No. 1 finish in Oil & Gas Exploration & Production. He receives praise from one backer for “his approach in being able to bridge corporate strategy, given macroeconomic conditions, with market perception and valuation.” Brackett argues that the price of natural gas, which has struggled this year to break above $3 per thousand cubic feet and settled at $2.68 per mcf in mid-September, will return toward $4 per mcf in the 12 months. That threshold was last reached in September 2014, but he cautions it “might be as good as things get” in the longer term. “One needs to think of natural-gas supply in a new paradigm, with more emphasis on logistics versus upstream excellence,” the 47-year-old analyst explains. “Finding winning upstream gas stocks requires finding the combination of good assets and logistics savvy.” Fort Worth, Texas–based Range Resources Corp. “fits the bill,” he believes, “with its deep inventory in the less-congested Southwest Marcellus and its gas and natural-gas liquids marketing creativity and ability.” At $73, Brackett’s price objective for the shares implies a 102.5 percent premium to their value in mid-September.