NORTHERN OIL & GAS INC NOG
COM · Common Stock · CUSIP 665531307 · ISIN US6655313079
- SectorEnergy
- IndustryCrude Petroleum & Natural Gas
- HeadquartersMinnetonka, MN
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($14.9m this quarter). Holder counts are more reliable. Shares outstanding: 97.6m as of 2025-07-28, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $28.40. Options: 18 managers hold calls ($100.9m notional), 20 hold puts ($45.3m).
Trends to Q2 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 235 |
| Q4 2022 | 267 |
| Q1 2023 | 256 |
| Q2 2023 | 289 |
| Q3 2023 | 318 |
| Q4 2023 | 323 |
| Q1 2024 | 335 |
| Q2 2024 | 332 |
| Q3 2024 | 340 |
| Q4 2024 | 393 |
| Q1 2025 | 367 |
| Q2 2025 | 376 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2023 | 182 | 128 |
| Q4 2023 | 188 | 125 |
| Q1 2024 | 172 | 165 |
| Q2 2024 | 182 | 145 |
| Q3 2024 | 173 | 146 |
| Q4 2024 | 216 | 134 |
| Q1 2025 | 181 | 198 |
| Q2 2025 | 207 | 165 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $68.5m | $76.7m | 1.12 |
| Q4 2024 | $67.7m | $71.4m | 1.06 |
| Q1 2025 | $52.8m | $42.1m | 0.80 |
| Q2 2025 | $100.9m | $45.3m | 0.45 |
Biggest buyers
| MACQUARIE GROUP LTD | New | +1.2m |
| AMERICAN CENTURY COMPANIES INC | Added | +1.1m |
| ROYAL BANK OF CANADA | Added | +815.3k |
| UBS Group AG | Added | +607.3k |
| JENNISON ASSOCIATES LLC | Added | +411.5k |
| DIMENSIONAL FUND ADVISORS LP | Added | +407.4k |
| Allspring Global Investments Holdings, LLC | Added | +397.1k |
| Susquehanna Portfolio Strategies, LLC | New | +267.4k |
| AQR CAPITAL MANAGEMENT LLC | Added | +231.9k |
| Oxbow Advisors, LLC | New | +217.9k |
Biggest sellers
| BlackRock, Inc. | Reduced | -823.2k |
| SEI INVESTMENTS CO | Reduced | -725.5k |
| STATE STREET CORP | Reduced | -631.3k |
| WESTWOOD HOLDINGS GROUP INC | Reduced | -552.2k |
| LOOMIS SAYLES & CO L P | Reduced | -489.5k |
| Channing Capital Management, LLC | Reduced | -449.0k |
| NOMURA HOLDINGS INC | Reduced | -416.6k |
| CITADEL ADVISORS LLC | Sold out | -372.9k |
| Portolan Capital Management, LLC | Reduced | -321.2k |
| Bridgewater Associates, LP | Sold out | -285.2k |
Biggest calls
| UBS Group AG | New | $53.8m1.9m shares |
| PEAK6 LLC | Reduced | $11.3m400.2k shares |
| CITADEL ADVISORS LLC | Added | $9.6m339.4k shares |
| GOLDMAN SACHS GROUP INC | Unchanged | $4.8m170.1k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $3.8m133.2k shares |
| Walleye Trading LLC | Reduced | $3.0m107.3k shares |
| CAPITAL FUND MANAGEMENT S.A. | Added | $2.4m86.0k shares |
| JANE STREET GROUP, LLC | Added | $2.3m81.1k shares |
| BANK OF MONTREAL /CAN/ | New | $2.2m78.2k shares |
| IMC-Chicago, LLC | Added | $1.9m67.8k shares |
Biggest puts
| PEAK6 LLC | Added | $15.0m528.2k shares |
| GOLDMAN SACHS GROUP INC | Unchanged | $4.8m170.1k shares |
| TWO SIGMA INVESTMENTS, LP | Reduced | $4.7m165.3k shares |
| CAPITAL FUND MANAGEMENT S.A. | Added | $3.9m136.4k shares |
| CITADEL ADVISORS LLC | Reduced | $2.8m100.1k shares |
| WOLVERINE ASSET MANAGEMENT LLC | Unchanged | $2.4m86.4k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $2.2m78.1k shares |
| Point72 Asset Management, L.P. | Unchanged | $1.4m49.3k shares |
| Squarepoint Ops LLC | Added | $1.4m47.9k shares |
| IMC-Chicago, LLC | Added | $1.2m41.2k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| BlackRock, Inc. 13G · institution filed 2025-07-17 | 14.1% |
| AMERICAN CENTURY INVESTMENT MANAGEMENT INC 13G · institution filed 2025-08-14 | 8.1% |
| STATE STREET CORP 13G · institution +1.5 pts · filed 2026-08-07 | 6.8% |
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 6.3% |
| Invesco Ltd. 13G · institution +1.2 pts · filed 2026-08-13 | 6.3% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 | 5.0% |
Fell to 5% or below in the last year: FMR LLC (1.8%, 2026-06-05), VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC), DIMENSIONAL FUND ADVISORS LP (4.3%, 2026-01-21)
Insider purchases and sales in Q2 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q3 2023 | 0 | — | 6 | $6.3m | $1.3m |
| Q4 2023 | 0 | — | 5 | $2.2m | $1.7m |
| Q1 2024 | 0 | — | 3 | $381.3k | $381.3k |
| Q2 2024 | 0 | — | 3 | $505.4k | $505.4k |
| Q3 2024 | 0 | — | 4 | $505.9k | $505.9k |
| Q4 2024 | 0 | — | 3 | $605.2k | $605.2k |
| Q1 2025 | 3 | $1.7m | 3 | $222.5k | $222.5k |
| Q2 2025 | 0 | — | 0 | — | — |
None reported in Q2 2025.
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.01% of their portfolio | 14.2m $402.9m | Reduced -823.2k |
| VANGUARD GROUP INC 0.00% of their portfolio | 10.9m $308.8m | Reduced -144.4k |
| FMR LLC 0.02% of their portfolio | 10.6m $299.4m | Reduced -89.9k |
| AMERICAN CENTURY COMPANIES INC 0.12% of their portfolio | 8.0m $227.7m | Added +1.1m |
| STATE STREET CORP 0.01% of their portfolio | 4.7m $136.7m | Reduced -631.3k |
| DIMENSIONAL FUND ADVISORS LP 0.03% of their portfolio | 4.7m $133.4m | Added +407.4k |
| Invesco Ltd. 0.02% of their portfolio | 3.5m $99.7m | Added +95.6k |
| ALLIANCEBERNSTEIN L.P. 0.03% of their portfolio | 3.4m $96.0m | Reduced -39.5k |
| WESTWOOD HOLDINGS GROUP INC 0.50% of their portfolio | 2.4m $68.8m | Reduced -552.2k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 2.3m $64.2m | Reduced -63.2k |
| Allspring Global Investments Holdings, LLC 0.10% of their portfolio | 2.0m $56.9m | Added +397.1k |
| MORGAN STANLEY 0.00% of their portfolio | 1.9m $54.7m | Added +6.8k |
| Copeland Capital Management, LLC 1.09% of their portfolio | 1.9m $53.2m | Reduced -167.2k |
| WESTFIELD CAPITAL MANAGEMENT CO LP 0.21% of their portfolio | 1.7m $49.3m | Added +103.4k |
| UBS Group AG 0.01% of their portfolio | 1.7m $48.4m | Added +607.3k |
| Channing Capital Management, LLC 1.16% of their portfolio | 1.5m $41.7m | Reduced -449.0k |
| Nuveen, LLC 0.01% of their portfolio | 1.3m $37.5m | Added +124.1k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 1.3m $37.5m | Added +815.3k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 1.2m $34.8m | Added +86.4k |
| Hood River Capital Management LLC 0.48% of their portfolio | 1.2m $34.7m | Reduced -155.1k |
| MACQUARIE GROUP LTD 0.04% of their portfolio | 1.2m $32.9m | New |
| NORTHERN TRUST CORP 0.00% of their portfolio | 1.2m $32.8m | Reduced -27.1k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.04% of their portfolio | 1.1m $32.0m | Added +35.1k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 1.1m $30.4m | Reduced -183.8k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 1.0m $28.4m | Reduced -77.6k |
| VOYA INVESTMENT MANAGEMENT LLC 0.03% of their portfolio | 973.7k $27.6m | Added +13.9k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 952.1k $27.0m | Added +118.8k |
| PALISADE CAPITAL MANAGEMENT, LP 0.76% of their portfolio | 946.8k $26.8m | Reduced -35.5k |
| JENNISON ASSOCIATES LLC 0.02% of their portfolio | 924.6k $26.2m | Added +411.5k |
| KENNEDY CAPITAL MANAGEMENT LLC 0.56% of their portfolio | 832.5k $23.6m | Added +151.4k |
| SILVERCREST ASSET MANAGEMENT GROUP LLC 0.15% of their portfolio | 793.5k $22.5m | Reduced -32.2k |
| VICTORY CAPITAL MANAGEMENT INC 0.01% of their portfolio | 737.8k $20.9m | Added +35.0k |
| Squarepoint Ops LLC 0.04% of their portfolio | 713.3k $20.2m | Reduced -192.2k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 659.5k $18.7m | Reduced -59.9k |
| RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio | 577.1k $16.4m | Reduced -64.2k |
| Requisite Capital Management, LLC 3.53% of their portfolio | 565.8k $16.3m | Added +339 |
| Tributary Capital Management, LLC 1.34% of their portfolio | 532.8k $15.1m | Reduced -86.2k |
| BW Gestao de Investimentos Ltda. 1.39% of their portfolio | 517.6k $14.7m | Added +50.0k |
| Penn Capital Management Company, LLC 1.27% of their portfolio | 515.9k $14.7m | Added +122.1k |
| MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC 0.15% of their portfolio | 488.3k $13.8m | Added +28.2k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 486.7k $13.8m | Reduced -7.8k |
| BARCLAYS PLC 0.01% of their portfolio | 475.2k $13.5m | Added +85.5k |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC 0.04% of their portfolio | 461.6k $13.1m | Added +85.7k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 440.4k $12.5m | Added +43.4k |
| CITIGROUP INC 0.01% of their portfolio | 426.4k $12.1m | Reduced -28.2k |
| FIRST TRUST ADVISORS LP 0.01% of their portfolio | 406.7k $11.5m | Reduced -171.0k |
| Aberdeen Group plc 0.02% of their portfolio | 399.5k $11.4m | Reduced -60.6k |
| SEI INVESTMENTS CO 0.01% of their portfolio | 386.9k $11.0m | Reduced -725.5k |
| Aristotle Capital Boston, LLC 0.51% of their portfolio | 354.3k $10.0m | Reduced -16.8k |
| LORD, ABBETT & CO. LLC 0.03% of their portfolio | 353.7k $10.0m | Added +112.3k |
| Public Sector Pension Investment Board 0.04% of their portfolio | 334.9k $9.5m | Added +20.0k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 318.4k $9.0m | Added +38.2k |
| Aptus Capital Advisors, LLC 0.08% of their portfolio | 288.4k $8.2m | Added +26.4k |
| AQR CAPITAL MANAGEMENT LLC 0.01% of their portfolio | 272.7k $7.7m | Added +231.9k |
| RHUMBLINE ADVISERS 0.01% of their portfolio | 269.5k $7.6m | Reduced -2.7k |
| Susquehanna Portfolio Strategies, LLC 0.17% of their portfolio | 267.4k $7.6m | New |
| PEAK6 LLC 0.13% of their portfolio | 257.9k $7.3m | Added +137.9k |
| ROYCE & ASSOCIATES LP 0.07% of their portfolio | 252.9k $7.2m | Reduced -2.1k |
| Legal & General Group Plc 0.00% of their portfolio | 248.9k $7.1m | Added +1.5k |
| Woodline Partners LP 0.04% of their portfolio | 248.0k $7.0m | Added +8.7k |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 244.8k $6.9m | Added +52.8k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 229.1k $6.5m | Reduced -11.5k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 227.4k $6.4m | Added +89.3k |
| Oxbow Advisors, LLC 0.68% of their portfolio | 217.9k $6.2m | New |
| DENALI ADVISORS LLC 0.60% of their portfolio | 201.6k $5.7m | Added +40.2k |
| 12th Street Asset Management Company, LLC 0.98% of their portfolio | 200.5k $5.7m | Reduced -8.9k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 193.7k $5.5m | Reduced -19.9k |
| Aquatic Capital Management LLC 0.11% of their portfolio | 185.3k $5.3m | Added +53.8k |
| Swiss National Bank 0.00% of their portfolio | 179.3k $5.1m | Reduced -4.4k |
| Russell Investments Group, Ltd. 0.01% of their portfolio | 174.5k $4.9m | Added +53.5k |
| Brandywine Global Investment Management, LLC 0.03% of their portfolio | 173.9k $4.9m | Reduced -152.4k |
| PEREGRINE CAPITAL MANAGEMENT LLC 0.14% of their portfolio | 168.9k $4.8m | Added +1.2k |
| HARBOR CAPITAL ADVISORS, INC. 0.20% of their portfolio | 166.8k $4.7m | Added +5.3k |
| COMERICA BANK 0.02% of their portfolio | 151.6k $4.3m | Reduced -7.6k |
| Ninepoint Partners LP 0.82% of their portfolio | 150.0k $4.3m | Reduced -50.0k |
| SIT INVESTMENT ASSOCIATES INC 0.09% of their portfolio | 149.0k $4.2m | Reduced -25.6k |
| CAXTON ASSOCIATES LLP 0.11% of their portfolio | 146.4k $4.2m | Added +2.7k |
| Phocas Financial Corp. 0.59% of their portfolio | 144.2k $4.1m | Unchanged |
| Engineers Gate Manager LP 0.05% of their portfolio | 131.6k $3.7m | Added +117.3k |
| Allianz Asset Management GmbH 0.00% of their portfolio | 127.6k $3.6m | Added +13.9k |
| Sterling Capital Management LLC 0.05% of their portfolio | 123.1k $3.5m | Added +876 |
| Rafferty Asset Management, LLC 0.01% of their portfolio | 118.5k $3.4m | Reduced -33.1k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio | 115.9k $3.3m | Reduced -3.7k |
| EFG Asset Management (North America) Corp. 0.46% of their portfolio | 115.5k $3.3m | Added +17.6k |
| Grantham, Mayo, Van Otterloo & Co. LLC 0.01% of their portfolio | 113.5k $3.2m | Reduced -66.8k |
| PIN OAK INVESTMENT ADVISORS INC 2.83% of their portfolio | 110.5k $3.3m | Reduced -1.5k |
| Nicholas Investment Partners, LP 0.28% of their portfolio | 110.1k $3.1m | Reduced -7.6k |
| Quantbot Technologies LP 0.08% of their portfolio | 108.5k $3.1m | Added +62.2k |
| Man Group plc 0.01% of their portfolio | 107.9k $3.1m | Reduced -126.0k |
| PRUDENTIAL FINANCIAL INC 0.01% of their portfolio | 102.7k $4.1m | Added +5.4k |
| DARK FOREST CAPITAL MANAGEMENT LP 0.12% of their portfolio | 101.7k $2.9m | Added +74.5k |
| State of Alaska, Department of Revenue 0.03% of their portfolio | 100.5k $2.8m | Added +3.5k |
| Motley Fool Asset Management LLC 0.13% of their portfolio | 99.9k $2.8m | Added +14.4k |
| Homestead Advisers Corp 0.07% of their portfolio | 99.8k $2.8m | Unchanged |
| SEGALL BRYANT & HAMILL, LLC 0.04% of their portfolio | 94.8k $2.7m | Added +2.3k |
| NOMURA HOLDINGS INC 0.02% of their portfolio | 92.4k $2.6m | Reduced -416.6k |
| Hudson Bay Capital Management LP 0.02% of their portfolio | 91.5k $2.6m | Reduced -10.3k |
| LPL Financial LLC 0.00% of their portfolio | 89.1k $2.5m | Added +11.0k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 87.7k $2.5m | Unchanged |
| Creative Planning 0.00% of their portfolio | 85.2k $2.4m | Added +56.7k |