BALTIMORE, April 20, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of Adams Natural Resources Fund, Inc. (NYSE: PEO) today declared a distribution of $.10 per share from net investment income, payable June 1, 2023, to shareholders of record May 18, 2023. This distribution represents the second payment this year toward the Fund’s annual 6% minimum distribution rate commitment, which can be found at adamsfunds.com.
FIRST QUARTER PERFORMANCE
For the three months ended March 31 st , the total return on Adams Natural Resources’ net asset value, with dividends and capital gains reinvested, was -2.8%. This compares to a total return of -3.2% for the Fund’s benchmark, which is comprised of the S&P 500 Energy Sector (83% weight) and the S&P 500 Materials Sector (17% weight), over the same period. The total return on the market price of the Fund’s shares for the period was -5.3%.
For the twelve months ended March 31 st , the total return on Adams Natural Resources’ net asset value, with dividends and capital gains reinvested, was 10.2%. This compares to a total return of 9.8% for the Fund’s benchmark, which is comprised of the S&P 500 Energy Sector (83% weight) and the S&P 500 Materials Sector (17% weight), over the same period. The total return on the market price of the Fund’s shares for the period was -5.8%.
For further information please contact: adamsfunds.com/about/contact or 800.638.2479
The First Quarter Report to Shareholders is expected to be available on or about April 26, 2023.
ANNUALIZED COMPARATIVE RETURNS (3/31/2023)
1 Year | 3 Year | 5 Year | |
Adams Natural Resources Fund (NAV) | 10.2% | 43.7% | 9.9% |
Adams Natural Resources Fund (market price) | 5.8% | 44.1% | 9.4% |
S&P 500 Energy Sector | 13.6% | 48.4% | 9.5% |
S&P 500 Materials Sector | -6.3% | 23.9% | 9.6% |
NET ASSET VALUE ANNOUNCED
The Fund’s net asset value at March 31, 2023, compared with the year earlier, was:
3/31/2023 | 3/31/2022 | |
Net assets | $627,152,193 | $597,963,876 |
Shares outstanding | 25,082,799 | 24,484,655 |
Net asset value per share | $25.00 | $24.42 |
TEN LARGEST EQUITY PORTFOLIO HOLDINGS (3/31/2023)
% of Net Assets | |
Exxon Mobil Corporation | 23.4 % |
Chevron Corporation | 14.0% |
ConocoPhillips | 7.2% |
Schlumberger N.V. | 4.6% |
Marathon Petroleum Corporation | 4.3% |
Linde plc | 3.7% |
Pioneer Natural Resources Corporation | 3.5% |
Phillips 66 | 3.0% |
EOG Resources | 2.4% |
Hess Corporation | 2.4% |
Total | 68.5% |
SECTOR WEIGHTINGS (3/31/2023)
% of Net Assets | |
Energy | 81.5% |
Integrated Oil & Gas | 37.4% |
Exploration & Production | 23.0% |
Refining & Marketing | 9.2% |
Equipment & Services | 6.5% |
Storage & Transportation | 5.4% |
Materials | 17.7% |
Chemicals | 12.2% |
Metals & Mining | 3.8% |
Containers & Packaging | 1.1% |
Construction Materials | 0.6% |
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 85 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.
For further information please contact: adamsfunds.com/about/contact or 800.638.2479