2016年整个欧洲研究Team: Oil Services, No. 3: Robert Pulleyn & team

Robert Pulleyn & team

Morgan Stanley

First-place appearances: 1

Total appearances: 11

Team debut: 2006

Robert Pulleyn, 33, shepherds his Morgan Stanley crew to third place, down one spot since last year. Even so, one fund manager offers, ”Rob’s long experience gives him the confidence to take strong views.” Indeed, last February the London-headquartered analysts held a decidedly lower opinion of U.K. oil field services provider Petrofac than the consensus. Citing cost overruns and execution difficulties, they reduced their rating on the stock from equal weight to underweight. Eleven months later it had traded down 9.6 percent, to 700p, while the regional sector had slumped 39.5 percent. Of the 17 companies within their purview, one favorite is Subsea 7, a U.K.-based offshore-equipment builder that Pulleyn and his teammates predict is primed for an earnings turnaround. They hiked their rating on Subsea’s Oslo-listed shares from underweight all the way to overweight — and by the middle of last month, they had dropped 35.2 percent, to 72.74 Norwegian kroner. During the same period, Europe’s oil services names overall tumbled 37.9 percent. The analysts maintain a target price of Nkr102. “I trust their long-range insights,” shares another loyalist.