PEO - Adams Natural Resources Fund Announces 2019 Performance
BALTIMORE, Jan. 16, 2020 /PRNewswire/ -- Adams Natural Resources Fund, Inc. (NYSE: PEO) announces the Fund's investment returns for 2019. "Our Fund benefited from exposure to both the Energy and Materials sectors in 2019. Our investments in Materials rose 25.0% for the year," said Mark Stoeckle, CEO of Adams Funds.
The total return on the Fund's net asset value for the year was 13.7%, with dividends and capital gains reinvested. The comparable figures for the Lipper Global Natural Resources Funds Average, the S&P 500 Energy Sector, and the S&P 500 Materials Sector were 15.4%, 11.8%, and 24.6%, respectively. The total return on the Fund's market price for the same period was 21.1%.
The Fund paid $1.10 per share in income dividends and realized capital gain distributions to shareholders in 2019, producing an annual distribution rate of 6.9%, exceeding the Fund's annual 6.0% minimum distribution rate commitment. Details regarding the annual 6.0% minimum distribution rate commitment can be found at adamsfunds.com.
The 2019 Annual Report is expected to be released on or about February 24, 2020.
ANNUALIZED ONE, THREE, AND FIVE-YEAR COMPARATIVE RETURNS (12/31/19)
1 Year |
3 Year |
5 Year |
Adams Natural Resources Fund (NAV) |
13.7% |
-1.5% |
-1.1% |
Adams Natural Resources Fund (market price) |
21.1% |
-0.2% |
-0.9% |
Lipper Global Natural Resources Funds Average |
15.4% |
-0.3% |
-1.1% |
S&P 500 Energy Sector |
11.8% |
-3.2% |
-1.9% |
S&P 500 Materials Sector |
24.6% |
9.6% |
7.1% |
NET ASSET VALUE ANNOUNCED
The Fund's net asset value at the end of 2019, compared with the year earlier, was:
12/31/19 |
12/31/18 |
Net assets |
$561,468,757 |
$522,997,331 |
Shares outstanding |
29,874,578 |
29,534,111 |
Net asset value per share |
$18.79 |
$17.71 |
TEN LARGEST EQUITY PORTFOLIO HOLDINGS (12/31/19)
% of Net Assets |
Exxon Mobil Corporation |
18.4% |
Chevron Corporation |
16.1% |
ConocoPhillips |
6.2% |
Schlumberger NV |
4.2% |
Linde plc |
4.0% |
Phillips 66 |
3.8% |
EOG Resources, Inc. |
3.4% |
Marathon Petroleum Corporation |
3.1% |
Valero Energy Corporation |
3.1% |
Kinder Morgan Inc. |
3.0% |
Total |
65.3% |
SECTOR WEIGHTINGS (12/31/19)
% of Net Assets |
Energy |
Integrated Oil & Gas |
34.4% |
Exploration & Production |
19.4% |
Refining & Marketing |
10.7% |
Equipment & Services |
7.8% |
Storage & Transportation |
7.0% |
Materials |
Chemicals |
13.1% |
Construction Materials |
3.2% |
Containers & Packaging |
2.2% |
Metals & Mining |
1.6% |
###
About Adams Funds
Since 1929, Adams Funds has consistently helped generations of investors reach their investment goals. Adams Funds is comprised of two closed-end funds, Adams Diversified Equity Fund, Inc. (NYSE: ADX) and Adams Natural Resources Fund, Inc. (NYSE: PEO).The Funds are actively managed by an experienced team with a disciplined approach and have paid dividends for more than 80 years across many market cycles. The Funds are committed to paying an annual distribution rate of 6% or more, providing reliable income to long-term investors. Shares can be purchased through our transfer agent or through a broker. For more information about Adams Funds, please visit: adamsfunds.com.
Contact:
Lyn Walther
Director of Shareholder Communications
investorrelations@adamsfunds.com
SOURCE Adams Natural Resources Fund, Inc.