Novak & Powell Financial Services Inc. Invests $498,000 in ConocoPhillips

The investment firm acquired a new stake in the energy producer during the third quarter.

Mar. 17, 2026 at 1:18pm

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Novak & Powell Financial Services Inc. acquired a new stake in ConocoPhillips (NYSE:COP) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 5,264 shares of the energy producer's stock, valued at approximately $498,000.

Why it matters

This investment highlights the continued interest in ConocoPhillips from institutional investors and hedge funds, as the energy producer has seen its stock price rise over the past year amid higher oil and gas prices.

The details

A number of other hedge funds have also recently made changes to their positions in ConocoPhillips, with some increasing their stakes and others initiating new positions in the company. The investment firm's purchase of ConocoPhillips shares comes as the energy producer has seen its stock price rise, reaching a 1-year high of $122.50 in recent trading.

Novak & Powell Financial Services Inc. acquired the new stake in ConocoPhillips during the third quarter of 2026.

The players