Insider Trading: Oaktree Capital Management Bought 2 Million Shares In $XCO

Howard Marks’ Oaktree Capital Management disclosed on Friday for its recent insider transactions in Exco Resources Inc. (XCO). According to the filing, Oaktree Capital Management bought 2 million shares at about $9.90 in XCO on December 14. After that the firm had about 36.86 million shares in its position. Previously Oaktree Capital Management bought 10 thousand call options and 5 thousand shares in XCO on November 5th. The firm did not make change to its position during the third quarter, and it reported 34.78 million shares in XCO at the end of September. Now XCO is trading at $9.65, down 49% so far in 2011.


There are several other hedge funds that invested in XCO. In the third quarter, Anand Parekh’s Alyeska Investment Group took the most shares among hedge funds. The firm remained 7.21 million shares after a 20% decrease. Phil Falcone’s Harbinger Capital had 2.70 million shares in the stock at the end of September.

Oaktree Capital is a global investment management firm. The firm has an approximately $7.35 billion portfolio under management. The firm focuses on a limited number of sophisticated investment specialties, and is involved in less efficient markets and alternative investments. The firm mainly invests in Services, Basic Materials, Technology, and Financial sector.

According to Google Finance, Exco Resources Inc. is an independent oil and natural gas company. It engages in the exploration, exploitation, development and production of onshore North American oil and natural gas properties. Additionally, the company owns 50% interest in a midstream joint ventures located in East Texas, North Louisiana and Appalachia, respectively. The company had reserves of about 1.5 trillion cubic feet equivalent, and operated 7,276 wells as of December 31st, 2010. The company was founded in 1955 and is headquartered in Dallas, Texas.