Adams Natural Resources Fund, Inc. - PEO STOCK NEWS

Adams Natural Resources Fund (NYSE: PEO) reported its nine-month results ending September 30, 2024. The fund's net asset value total return was 10.2%, outperforming its benchmark's 9.5% return. The fund's market price total return was 16.3% for the same period. For the 12 months ended September 30, the fund's NAV total return was 6.2%, surpassing the benchmark's 4.9%, while the market price total return reached 9.2%.

The fund's net asset value as of September 30, 2024, was $681,420,546 with 25,728,942 shares outstanding, resulting in a NAV per share of $26.48. The top holdings include Exxon Mobil (25.6%) and Chevron (11.2%). The fund's portfolio is heavily weighted towards the Energy sector, with Integrated Oil & Gas (37.4%) and Exploration & Production (18.3%) being the largest industry weightings.

Adams Natural Resources Fund (NYSE: PEO) has announced its third quarter distribution details. The Fund set the issue price at $22.75 per share for the $0.54 distribution payable on August 30, 2024. This is part of the Fund's new managed distribution policy, which commits to an 8% annual rate of average net asset value (NAV) distributed quarterly.

The distribution sources are: 59% from net investment income and 41% from net realized long-term gains. The Fund's 5-year average annual total return on NAV is 14.4%, with a current annualized distribution rate of 7.8%. Adams Natural Resources Fund has maintained a consistent record of paying dividends for over 90 years and capital gains for more than 73 consecutive years.

Adams Natural Resources Fund (NYSE: PEO) has declared a distribution of $0.54 per share, payable on August 30, 2024, to shareholders of record on August 5, 2024. This distribution is part of the Fund's Managed Distribution Policy to pay at least 2% of average net asset value each quarter.

For the first half of 2024, PEO reported a total return of 10.2% on its net asset value, outperforming its benchmark's 9.6% return. The Fund's market price total return was 15.5% for the same period. Over the 12 months ended June 30, 2024, PEO's net asset value total return was 16.5%, compared to the benchmark's 14.4%.

As of June 30, 2024, PEO's net assets were $689,986,546, with a net asset value per share of $27.11. The Fund's portfolio is heavily weighted towards the Energy sector (80.5%), with top holdings including Exxon Mobil, Chevron, and ConocoPhillips.

Adams Diversified Equity Fund (NYSE: ADX) and Adams Natural Resources Fund (NYSE: PEO) announced several governance updates approved by their Boards of Directors. These include the election of a classified board structure and adoption of specific bylaws amendments. The classified board structure will have three director classes with three-year terms each, as per Maryland Corporations Code Section 3-803. These changes aim to enhance the stability of fund oversight and operations, serving the long-term interests of shareholders. The governance updates were made after a thorough review to safeguard the best interests of the funds and their shareholders.

Adams Natural Resources Fund (NYSE: PEO) has announced a new initiative to enhance shareholder value: an 8% annual rate managed distribution policy. This policy replaces the previous 6% minimum annual distribution commitment and aims to offer higher, more predictable quarterly distributions. Starting in the third quarter of 2024, the Fund will distribute 2% of the average net asset value (NAV) each quarter, with the fourth quarter distribution being at least 2% of NAV or the amount needed to meet Internal Revenue Code requirements. Distributions may include net investment income, capital gains, and/or returns of capital, payable in shares or cash. CEO James Haynie asserts that this policy will enhance the Fund's value proposition while maintaining its strong returns and low expense ratio.

Adams Natural Resources Fund, Inc. (NYSE: PEO) recently declared a distribution of $.10 per share and announced impressive first-quarter performance results. The distribution represents the Fund's commitment to a 6% minimum distribution rate. For the three months ended March 31st, the total return on the Fund's net asset value was 13.1%, outperforming its benchmark of 12.7%. Over the twelve months ended March 31st, the total return on the Fund's net asset value was 19.3%, also surpassing its benchmark of 17.6%.

Adams Natural Resources Fund, Inc. (PEO) announced its investment returns for 2023, with a total return on the Fund’s net asset value of 2.5%, outperforming its benchmark. The Fund paid $1.35 per share in income dividends and realized capital gain distributions, exceeding its annual 6% minimum distribution rate commitment. However, the comparable figures for the S&P 500 Energy Sector and the S&P 500 Materials Sector were -1.3% and 12.6% respectively, indicating mixed performance in comparison.

Adams Natural Resources Fund, Inc. (NYSE: PEO) has declared a distribution of $0.10 per share, payable on March 1, 2024, to shareholders of record on February 9, 2024. The distribution consists of $0.04 net investment income and $0.01 long-term capital gain, both realized in 2023, and $0.05 net investment income realized in 2024.

Adams Natural Resources Fund, Inc. (NYSE: PEO) has set the issue price for its year-end distribution at $19.96 per share, consisting of $0.40 in net investment income and $0.65 in net realized capital gains, payable on December 15, 2023. The fund has committed to distributing at least 6% of the fund’s trailing 12-month average month-end market price, exceeding this year with a 6.2% annual distribution rate. Adams Funds, comprised of two closed-end funds, has consistently paid dividends for over 85 years, aiming to provide reliable income to long-term investors.