STOCK TITAN

Adams Natural Resources Fund Declares Distribution and Announces First Half Performance

Rhea-AI Impact
(No impact)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Adams Natural Resources Fund declares distribution of $.10 per share from net investment income. First half performance shows total return on net asset value of -3.1%. Annualized comparative returns for the Fund are 19.1% (NAV) and 15.2% (market price) for the twelve months ended June 30, 2023. The Fund's net asset value at June 30, 2023, was $24.81 per share. Exxon Mobil Corporation is the largest equity portfolio holding at 23.1%.
Positive
  • Adams Natural Resources Fund declares distribution of $.10 per share from net investment income.
  • Annualized comparative returns for the Fund are 19.1% (NAV) and 15.2% (market price) for the twelve months ended June 30, 2023.
  • The Fund's net asset value at June 30, 2023, was $24.81 per share.
  • Exxon Mobil Corporation is the largest equity portfolio holding at 23.1%.
Negative
  • First half performance shows total return on net asset value of -3.1%.

BALTIMORE, July 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 September 1, 2023, to shareholders of record August 18, 2023. This distribution represents the third payment this year toward the Fund’s annual 6% minimum distribution rate commitment, which can be found at adamsfunds.com.

FIRST HALF PERFORMANCE

For the six months ended June 30th, the total return on Adams Natural Resources’ net asset value, with dividends and capital gains reinvested, was -3.1%. This compares to a total return of -3.3% 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 -3.6%.

For the twelve months ended June 30th, the total return on Adams Natural Resources’ net asset value, with dividends and capital gains reinvested, was 19.1%. This compares to a total return of 18.3% for the Fund’s benchmark, over the same period. The total return on the market price of the Fund’s shares for the period was 15.2%.

The Semi-Annual Report to Shareholders is expected to be available on or about July 27, 2023.

ANNUALIZED COMPARATIVE RETURNS (6/30/2023)

 1 Year3 Year5 Year
Adams Natural Resources Fund (NAV)19.1%31.9%7.7%
Adams Natural Resources Fund (market price)15.2%30.1%7.5%
S&P 500 Energy Sector18.8%35.4%6.6%
S&P 500 Materials Sector15.1%16.0%9.8%


NET ASSET VALUE ANNOUNCED

The Fund’s net asset value at June 30, 2023, compared with the year earlier, was:

 6/30/20236/30/2022
Net assets$620,953,602$549,582,157
Shares outstanding 25,033,377 24,485,265
Net asset value per share$24.81$22.45


TEN LARGEST EQUITY PORTFOLIO HOLDINGS (06/30/2023)

 % of Net Assets
Exxon Mobil Corporation23.1%
Chevron Corporation  13.6%
ConocoPhilips7.1%
Schlumberger N.V.4.4%
Linde plc4.0%
Marathon Petroleum Corporation3.5%
Pioneer Natural Resources Company3.4%
Phillips 662.9%
Hess Corporation2.7%
EOG Resources2.4%
Total67.1%


INDUSTRY WEIGHTINGS (6/30/2023)

 % of Net Assets
Energy80.8%
Integrated Oil & Gas36.7%
Exploration & Production23.3%
Refining & Marketing8.0%
Equipment & Services7.1%
Storage & Transportation5.7%
Materials18.5%
Chemicals13.5%
Metals & Mining3.2%
Containers & Packaging1.0%
Construction Materials0.8%


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


FAQ

What is the distribution declared by Adams Natural Resources Fund?

Adams Natural Resources Fund has declared a distribution of $.10 per share from net investment income.

What are the annualized comparative returns for the Fund?

The annualized comparative returns for the Fund are 19.1% (NAV) and 15.2% (market price) for the twelve months ended June 30, 2023.

What is the net asset value per share of the Fund at June 30, 2023?

The net asset value per share of the Fund at June 30, 2023, was $24.81.

Which company is the largest equity portfolio holding of the Fund?

Exxon Mobil Corporation is the largest equity portfolio holding of the Fund at 23.1%.

Adams Diversified Equity Fund, Inc

NYSE:ADX

ADX Rankings

ADX Latest News

ADX Stock Data

2.28B
112.69M
6.82%
22.93%
0.62%
Asset Management
Financial Services
Link
United States of America
Baltimore