This post is part of a special annual report -- Top Stock Picks '09 -- in which TheStockAdvisors.com asked 75 leading newsletter advisors to select their favorite investment for the new year.
Italy's Eni SPA ADR (NYSE: E) has one of the most successful and fastest-growing E&P operations of any major integrated energy firm," says energy expert Elliott Gue.
In his The Energy Strategist, he notes, "And despite its defensive characteristics, Eni offers an impressive 8.5%, the highest of the large integrated oils."
"ENI derives close to three-quarters of its operating income from exploration and production (E&P) and just 3.8% from refining and marketing.
"Thus, Eni has more leverage to E&P than most large integrated energy firms and less exposure to refining margins. The company's other main business is gas and power, accounting for close to 22% of operating income.
"Eni has one of the most successful and fastest-growing E&P operations of any major integrated energy firm. In the third quarter, Eni's production grew to 1.764 million barrels of oil equivalent per day (boe/d), up 6.3% over the same quarter a year ago, the fastest growth of any integrated firm in my coverage universe.
"And Eni has a large number of new projects scheduled to come onstream over the next three years that are poised to power further production growth.
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