Investing

Angelo Gordon Cuts Stake in Northern Oil & Gas (NOG)

Fintel reports that Angelo Gordon & Co., L.p. has filed a 13D/A form with the SEC disclosing ownership of 6,380,117 shares of Northern Oil & Gas, Inc. (NOG). This represents 7.5% of the company.

In their previous filing dated November 16, 2022 they reported 7,380,117 shares and 8.70% of the company, a decrease in shares of 13.55% and a decrease in total ownership of 1.20% (calculated as current – previous percent ownership).

Northern Oil and Gas, Inc. is a company with a primary strategy of investing in non-operated minority working and mineral interests in oil & gas properties, with a core area of focus in the Williston Basin Bakken and Three Forks play in North Dakota and Montana.

What are other large shareholders doing?

 

Capital World Investors holds 6,054,000 shares representing 7.81% ownership of the company. No change in the last quarter.

Invesco Ltd. holds 2,630,126 shares representing 3.39% ownership of the company. In it’s prior filing, the firm reported owning 2,667,524 shares, representing a decrease of 1.42%. The firm decreased its portfolio allocation in NOG by 89.48% over the last quarter.

Copeland Capital Management, LLC holds 2,146,303 shares representing 2.77% ownership of the company. In it’s prior filing, the firm reported owning 2,467,888 shares, representing a decrease of 14.98%. The firm decreased its portfolio allocation in NOG by 43.91% over the last quarter.

Westwood Holdings Group Inc holds 2,003,840 shares representing 2.58% ownership of the company. In it’s prior filing, the firm reported owning 2,049,658 shares, representing a decrease of 2.29%. The firm increased its portfolio allocation in NOG by 14.67% over the last quarter.

Ameriprise Financial Inc holds 1,689,845 shares representing 2.18% ownership of the company. In it’s prior filing, the firm reported owning 1,669,970 shares, representing an increase of 1.18%. The firm decreased its portfolio allocation in NOG by 78.66% over the last quarter.

What is the overall Fund Sentiment?

There are 509 funds or institutions reporting positions in Northern Oil & Gas, Inc.. This is an increase of 34 owner(s) or 7.16%.

Average portfolio weight of all funds dedicated to Northern Oil & Gas, Inc. is 0.2402%, an increase of 12.0085%. Total shares owned by institutions increased in the last three months by 0.31% to 79,508,670 shares.

Fintel’s Fund Sentiment Score is a quantitative model that ranks companies from zero to 100 based on Fund Sentiment. Fund Sentiment is important because it tells you if funds are buying or selling – and in particular how the company ranks compared to other companies in the investing universe.

This article originally appeared on Fintel.

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