Top 5 Oil Stocks To Buy Right Now

3. Concho Resources Inc. (CXO)

Number of Hedge Funds: 47

Total Value of Hedge Fund Holdings: $732 million

Fourth Quarter Return: 44.1%

Notable Hedge Fund Holders: D.E. Shaw

ConocoPhillips is in the process of acquiring Concho Resources. CXO shareholders will receive 1.46 COP shares for every CXO shares they have. COP shares closed at $43.48 on Friday. This means Each CXO share is worth $63.48, vs. its closing price of $63.27. Instead of investing in COP, investors can generate slightly higher returns by buying CXO shares (assuming that the deal closes quickly.