Investing

TRT Holdings Reduces Northern Oil & Gas (NOG) Position

Fintel Staff

Published: November 17, 2022 3:53 am

Last Updated: November 17, 2022 12:41 pm

Fintel reports that TRT Holdings Inc has filed a 13D/A form with the SEC disclosing ownership of 8,309,577 shares of Northern Oil & Gas, Inc. (NOG). This represents 9.7% of the company.

In their previous filing dated February 23, 2022 they reported 9,476,539 shares and 12.30% of the company, a decrease in shares of 12.31% and a decrease in total ownership of 2.60% (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.

State Street Corp holds 3,114,897 shares representing 4.02% ownership of the company. In it’s prior filing, the firm reported owning 3,423,896 shares, representing a decrease of 9.92%. The firm increased its portfolio allocation in NOG by 4.38% over 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.

What is the overall institutional sentiment?

There are 511 funds or institutions reporting positions in Northern Oil & Gas, Inc.. This is an increase of 37 owner(s) or 7.81%.

Average portfolio weight of all funds dedicated to Northern Oil & Gas, Inc. is 0.2389%, an increase of 9.1945%. Total shares owned by institutions increased in the last three months by 1.16% to 79,936,884 shares.

Based on this information, institutional sentiment is bullish.

This article originally appeared on Fintel