Sanford C. Bernstein & Co.
Benjamin Dell manages a rare feat: For a second straight year, the Sanford C. Bernstein & Co. analyst takes third place in a sector he didn’t officially cover. (He’s No. 1 in the sector that he did cover, Oil & Gas Exploration & Production.) How does he do it? By publishing research that is so thorough it covers all aspects of the energy industry, clients say. In December, Dell published a well-received report that explained, among other things, why shales haven’t lived up to their hype as cheap gas sources. Dell is “statistically driven and not reliant on the companies’ interpretations and explanations,” notes one pleased buy-sider. In early August, Dell became co-leader with Neil McMahon (No. 3 in Integrated Oil) of AllianceBernstein’s newly created direct energy investment team.