Ronald Smith and his team of five of Citi slip one rung to third place. “Ron knows the Russian oil and gas industry very well and focuses on the per-barrel economics as a means of determining what is important for the industry,” explains one buy-side supporter. In March 2012 the analysts — who are deployed in Poland, Russia, South Africa, Turkey and the U.K. — urged clients to buy the preferred shares of Surgutneftegas, at 19.68 rubles, on the grounds that the discount compared with the Surgut, Russia–based oil and gas producer’s common shares was unjustified — especially in light of the former’s much higher dividend. In January they designated the stock a top pick. By the end of May, the shares had dipped 1.2 percent, to 19.44 rubles, but the total return was 17.3 percent (including an estimated 2013 per-share dividend of 1.48 rubles), compared with 5.2 percent for the common shares, Smith reports. — Katie Gilbert |
Industries – Oil & Gas: Third