April 16, 2019 / 2:12 PM / in 2 days

Corvex's Meister likes Diamondback Energy after it bought Energen

BOSTON, April 16 (Reuters) - Hedge fund manager Keith Meister on Tuesday named energy company Diamondback Energy Inc. as one of Corvex Management’s top investment ideas after the company bought a rival last year.

“We think there is lots of value,” Meister said about the company at the 13D Monitor Active-Passive Summit, adding that he expects the management team will do all the right things to boost returns.

“It is a clean and easy story” for investors to buy energy stocks, Meister said, days after a industry player Chevron announced plans to buy rival Anadarko. “I think there is going to be a lot of activity,” Meister said, noting that the pace of takeovers in the energy sector is likely not over yet. (Reporting by Svea Herbst-Bayliss Editing by Chizu Nomiyama)

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