Adams Natural Resources Fund Announces 2022 Performance

Rhea-AI Summary

Adams Natural Resources Fund (NYSE: PEO) reported a 44.9% return for 2022, outperforming the S&P 500 Energy Sector at 65.7% but trailing its benchmark return of 45.4%. The fund's market price return was 42.2%. Shareholders received $1.63 per share in income dividends, resulting in an 8.1% annual distribution rate, surpassing its 6.0% minimum commitment. The net asset value (NAV) rose to $651.34 million, with 25.19 million shares outstanding, reflecting a NAV per share of $25.85, up from $19.22 the previous year. The 2022 Annual Report will be published around February 15, 2023.

Positive

• 2022 total return of 44.9%, outperforming the S&P 500 Materials Sector at -12.3% and the fund's market price return of 42.2%.
• Fund paid $1.63 per share in dividends, yielding an annual distribution rate of 8.1%, exceeding the 6.0% minimum commitment.
• Net assets increased to $651.34 million, up from $470.59 million year-on-year.

Negative

• Underperformed compared to S&P 500 Energy Sector return of 65.7% and benchmark return of 45.4%.

BALTIMORE, Jan. 19, 2023 (GLOBE NEWSWIRE) -- Adams Natural Resources Fund, Inc. (NYSE: PEO) announces the Fund’s investment returns for 2022. “In a difficult year for the broader market, significant exposure to energy generated a 44.9% return for our Fund,” said Mark Stoeckle, CEO of Adams Funds.

The total return on the Fund’s net asset value for the year was 44.9%, with dividends and capital gains reinvested. The comparable figures for the S&P 500 Energy Sector and the S&P 500 Materials Sector were 65.7% and -12.3%, respectively. Our benchmark, which is comprised of the S&P 500 Energy Sector (74%) and the S&P 500 Materials Sector (26%), returned 45.4%. The total return on the Fund’s market price for the same period was 42.2%.

The Fund paid $1.63 per share in income dividends and realized capital gain distributions to shareholders in 2022, producing an annual distribution rate of 8.1%, 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 2022 Annual Report is expected to be released on or about February 15, 2023.

ANNUALIZED ONE, THREE, AND FIVE-YEAR COMPARATIVE RETURNS (12/31/22)

	1 Year	3 Year	5 Year
Adams Natural Resources Fund (NAV)	44.9%	18.5%	9.1%
Adams Natural Resources Fund (market price)	42.2%	17.1%	8.8%
S&P 500 Energy Sector	65.7%	19.3%	9.3%
S&P 500 Materials Sector	-12.3%	10.5%	7.5%

NET ASSET VALUE ANNOUNCED

The Fund’s net asset value at the end of 2022, compared with the year earlier, was:

	12/31/22	12/31/21
Net assets	$651,336,441	$470,588,987
Shares outstanding	25,193,556	24,484,588
Net asset value per share	$25.85	$19.22

TEN LARGEST EQUITY PORTFOLIO HOLDINGS (12/31/22)

	% of Net Assets
Exxon Mobil Corporation	22.8%
Chevron Corporation	14.8%
ConocoPhillips	8.4%
Marathon Petroleum Corporation	3.9%
Schlumberger N.V.	3.5%
Pioneer Natural Resources Company	3.3%
Occidental Petroleum Corporation	3.2%
Linde plc	3.1%
Phillips 66	3.0%
EOG Resources, Inc.	2.9%
Total	68.9%

SECTOR WEIGHTINGS (12/31/22)

	% of Net Assets
Energy
Integrated Oil & Gas	37.6%
Exploration & Production	26.8%
Refining & Marketing	8.6%
Equipment & Services	6.2%
Storage & Transportation	3.7%
Materials
Chemicals	10.0%
Metals & Mining	3.0%
Construction Materials	2.4%
Containers & Packaging	1.1%

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.  

 

FAQ

What was the total return for Adams Natural Resources Fund (PEO) in 2022?

The Adams Natural Resources Fund (PEO) achieved a total return of 44.9% in 2022.

How much did Adams Natural Resources Fund (PEO) pay in dividends in 2022?

In 2022, the Adams Natural Resources Fund (PEO) paid $1.63 per share in dividends.

What is the annual distribution rate for Adams Natural Resources Fund (PEO) for 2022?

The annual distribution rate for Adams Natural Resources Fund (PEO) for 2022 was 8.1%.

When will the 2022 Annual Report for Adams Natural Resources Fund (PEO) be released?

The 2022 Annual Report for Adams Natural Resources Fund (PEO) is expected to be released on or about February 15, 2023.

What were the net assets for Adams Natural Resources Fund (PEO) at the end of 2022?

At the end of 2022, the net assets for Adams Natural Resources Fund (PEO) were $651.34 million.