Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Northern Oil & Gas Inc (NOG)

358 + Investors. Track Smart Money conviction in NOG. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +35
Streak
1Q ▲
Buyers last Q
62%

Smart Money Signals — NOG

Based on 359 hedge funds · latest filing: 2026 Q1 · updated quarterly

📈

Buying streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds added NOG than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
📊

High ownership — 91% of 3.0Y peak

91% of all-time peak
359 funds currently hold this stock — 91% of the 3.0-year high of 393 funds (reached 2024 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
〰️

Stable — ownership unchanged year-over-year

fund count last 6Q
The number of hedge funds holding NOG is almost the same as a year ago (-7 funds, -2% change). No significant rush to buy or sell — institutional backing is holding steady.
🟢

More buyers than sellers — 62% buying

218 buying133 selling
Last quarter: 218 funds were net buyers (75 opened a brand new position + 143 added to an existing one). Only 133 were sellers (93 trimmed + 40 sold completely). A clear majority buying is a strong confirmation signal.
📈

More new buyers each quarter (+26 vs last Q)

new funds entering per quarter
Funds opening a new NOG position: 51 → 34 → 49 → 75. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒

63% of holders stayed for 2+ years

■ 63% conviction (2yr+) ■ 21% medium ■ 16% new
225 out of 359 hedge funds have held NOG for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💰

Value +38% but shares only +3% — price-driven

Value
+37%
Shares
+3%
Last quarter: the total dollar value of institutional holdings rose +38%, but actual share count only changed +3%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
📈

Growing discovery — still being found

54 → 51 → 34 → 49 → 75 new funds/Q
New funds entering each quarter: 51 → 34 → 49 → 75. A growing number of institutions are discovering NOG each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️

Veteran-anchored — 70% veterans vs 20% newcomers

■ 70% veterans ■ 10% 1-2yr ■ 20% new
Entry-cohort mix of 376 holders: 262 (70%) are 2+ year veterans, 38 entered 1–2 years ago, and 76 (20%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆

Elite ownership — 65% AUM from top-100 funds

65% from top-100 AUM funds
49 of 355 holders are among the 100 largest funds by AUM, controlling 65% of total institutional value in NOG. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
3.0
out of 10
Low Exit Risk
Exit risk score 3.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — NOG

In 2026 Q1, 218 hedge funds were net buyers of NOG (75 opened a new position, 143 added to an existing one), while 133 reduced or exited (93 trimmed, 40 sold completely) — a 62% buyer ratio, indicating clear institutional accumulation. 65% of total institutional value in NOG is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: +35 funds (more new holders than closures). Total institutional holders: 359.

Hedge Fund Ownership: NOG

How many hedge funds hold NOG — quarterly history vs. share price
Quarterly hedge fund ownership of NOG vs. share price

Market Analysis: NOG

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: NOG

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy Northern Oil & Gas Inc (NOG) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much NOG has moved relative to its sector benchmark (XLE) since the 2026 Q2 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End June 30, 2026 · 46d ago
NOG
+35.0%
XLE
+16.6%

NOG outperformed XLE by +18.4% since June 30, 2026.

Since 13F Filing Date August 14, 2026 · 1d ago
NOG
+0.0%
XLE
+0.0%

Since the filing became public, NOG outperformed XLE by +0.0% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

29 top-rated funds 3 high-conviction
Consensus
6.4
/ 10
breadth
×
Elite
2.5
/ 10
conviction
Hedge Fund Positioning: NOG
2026 Q2 Stats Unlock in 4 days 358 + Investors

Track Smart Money conviction in NOG. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 358 323 10.84%
13F Shares 117M 113M 2.99%
Total Value $3.35B $2.43B 37.65%
New Positions 75 49 +26
Increased Positions 138 113 +25
Closed Positions 40 80 -40
Reduced Positions 87 120 -33
Total Calls 11 10 10.0%
Total Puts 10 14 -28.57%
PUT/CALL Ratio 0.91 1.4 Neutral

Statistics: NOG

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Valuation Measures Data as of: --

Market Cap --
Enterprise Value --
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Forward P/E --
PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
Profit Margin --
Return on Assets (ttm) --
Return on Equity (ttm) --
Income Statement & Cash Flow
Revenue (ttm) --
Net Income Avi to Common (ttm) --
Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
Levered Free Cash Flow (ttm) --

Institutional Holders (2026 Q2)

358 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in NOG. Verified SEC 13F-HR filings.

QUARTER:
2026 Q2 filings are still coming in. Only funds that have filed so far are shown — top holders may not have reported yet. Full 13F data typically settles by ~50 days after quarter-end.
Top 25 NOG holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Requisite Capital Management, LLC 1.74% 565,547 $10.5M
2 Collar Capital Management, LLC 1.37% 128,238 $2.3M
3 Tributary Capital Management, LLC 1.20% 804,530 $14.6M
4 Cutler Capital Management, LLC 1.06% 223,884 $4.1M
5 Encompass Capital Advisors LLC 0.81% 1,250,000 $22.7M
6 Taylor Frigon Capital Management LLC 0.61% 71,297 $1.3M
7 Commons Capital, LLC 0.57% 45,000 $817K
8 Penn Capital Management Company, LLC 0.53% 462,547 $8.4M
9 Epiq Partners, LLC 0.51% 66,452 $1.2M
10 SIR Capital Management, L.P. 0.44% 210,200 $3.8M
11 Register Financial Advisors LLC 0.43% 78,148 $1.4M
12 Teza Capital Management LLC 0.39% 11,235 $204K
13 Bayforest Capital Ltd 0.37% 22,327 $405K
14 Aristotle Capital Boston, LLC 0.33% 274,831 $5.0M
15 Palisade Capital Management, LP 0.27% 338,391 $6.1M
16 Aigen Investment Management, LP 0.26% 52,038 $944K
17 Kennedy Capital Management LLC 0.26% 794,387 $14.4M
18 Wbi Investments, LLC 0.22% 49,517 $899K
19 Bridgeway Capital Management, LLC 0.22% 693,649 $12.6M
20 Easterly Investment Partners LLC 0.20% 218,516 $4.0M
21 Hood River Capital Management LLC 0.20% 1,533,460 $27.8M
22 Dark Forest Capital Management LP 0.20% 166,768 $3.0M
23 Isthmus Partners, LLC 0.17% 98,316 $1.8M
24 Van Den Berg Management I, Inc 0.16% 42,782 $776K
25 Doliver Advisors, LP 0.15% 37,346 $678K
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Northern Oil & Gas Inc (NOG)

What does the Smart Money Trend signal show for NOG?

Buying streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds added NOG than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for NOG?

More buyers than sellers — 62% buying: Last quarter: 218 funds were net buyers (75 opened a brand new position + 143 added to an existing one). Only 133 were sellers (93 trimmed + 40 sold completely). A clear majority buying is a strong confirmation signal.

What is the fund quality score for NOG holders?

Elite ownership — 65% AUM from top-100 funds: 49 of 355 holders are among the 100 largest funds by AUM, controlling 65% of total institutional value in NOG. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held NOG?

63% of holders stayed for 2+ years: 225 out of 359 hedge funds have held NOG for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Is it too late to buy Northern Oil & Gas Inc (NOG) following the 2026 Q2 hedge fund 13F filings?

As of today, NOG has moved +0.0% since the 2026 Q2 13F filing date (August 14, 2026), compared to +0.0% for the XLE sector ETF — an outperformance of +0.0%. Since the quarter end (June 30, 2026), NOG has gained +35.0% vs +16.6% for XLE. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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