Victory Capital Management Reduces Northern Oil and Gas Stake

Investment firm cuts position in energy company by 19.5% in Q3

Mar. 11, 2026 at 11:48am

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Victory Capital Management Inc. decreased its stake in Northern Oil and Gas, Inc. (NYSE:NOG) by 19.5% during the third quarter, according to a recent SEC filing. The investment firm now owns 593,651 shares of the energy company's stock, down from 737,794 shares held previously.

Why it matters

Northern Oil and Gas is a prominent independent oil and gas company focused on the Williston Basin region. Changes in major institutional investor positions can signal shifts in market sentiment and future performance expectations for the company.

The details

According to the filing, Victory Capital Management sold 144,143 shares of Northern Oil and Gas during the third quarter. The firm now owns a 0.61% stake in the company, valued at $14.7 million at the end of the reporting period.

  • Victory Capital Management filed the 13F report covering the third quarter of 2025.

The players

Victory Capital Management Inc.

An investment management firm that oversees over $160 billion in client assets.

Northern Oil and Gas, Inc.

An independent energy company focused on oil and gas exploration and production in the Williston Basin region of North Dakota and Montana.

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The takeaway

The reduction in Victory Capital's Northern Oil and Gas stake could signal broader market concerns about the company's outlook, though the reasons behind the portfolio change are not fully clear. Investors will likely watch for any further shifts in institutional ownership of the stock.