Welcome to our dedicated page for Adams Natural Resources Fund news (Ticker: PEO), a resource for investors and traders seeking the latest updates and insights on Adams Natural Resources Fund stock.
Adams Natural Resources Fund, Inc. (NYSE: PEO) is a closed-end equity investment company with a rich history dating back to 1929. Specializing in energy and natural resources stocks, PEO aims to preserve capital, generate reasonable income from investments, and provide opportunities for capital appreciation. The Fund is part of Adams Funds, which also includes Adams Diversified Equity Fund, Inc. (NYSE: ADX).
Adams Natural Resources Fund is managed by an experienced team that employs a disciplined approach to identify investment opportunities and manage risk prudently. The Fund's portfolio is diversified across several sectors, predominantly focusing on energy and basic materials. As of the latest reports, the Fund has delivered impressive returns. For the twelve months ended September 30th, the total return on its net asset value (NAV), including dividends and capital gains reinvested, was 29.3%, outperforming its benchmark's return of 28.2%.
An essential feature of Adams Natural Resources Fund is its commitment to consistent income for its investors. The Fund has paid dividends and capital gains distributions for over 85 years, maintaining an annual distribution rate of at least 6%. In 2023, the Fund announced an annual distribution rate of 6.2%, emphasizing its dedication to providing dependable income regardless of market conditions.
Recent developments include the introduction of an 8% annual rate managed distribution policy, starting from the third quarter of 2024. This policy aims to provide regular and predictable distributions, enhancing the value proposition for shareholders. The distributions will be based on the Fund's average NAV, with a minimum of 2% distributed each quarter.
PEO's performance and policies underscore its long-term commitment to its shareholders. The Fund has consistently helped generations of investors achieve their financial goals through disciplined management and stable distributions. Shares of Adams Natural Resources Fund can be purchased through brokers or the Fund’s transfer agent.
About Adams Funds
Since 1929, Adams Funds has been dedicated to helping investors reach their goals. Adams Funds manages two closed-end funds, ADX and PEO, with a focus on disciplined investment strategies and reliable income for shareholders. For more information, please visit the official website or contact the Fund directly.
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.
FAQ
What is the current stock price of Adams Natural Resources Fund (PEO)?
What is the market cap of Adams Natural Resources Fund (PEO)?
What is Adams Natural Resources Fund, Inc.?
What are the investment objectives of the Fund?
How long has Adams Natural Resources Fund been paying dividends?
What is the Fund's annual distribution rate?
What is the new managed distribution policy?
How are the Fund's investments managed?
What sectors does the Fund invest in?
How has the Fund performed recently?
Who manages Adams Natural Resources Fund?