Adams Natural Resources Fund Declares Distribution and Announces First Quarter Performance

Rhea-AI Summary

The Board of Directors of Adams Natural Resources Fund (NYSE: PEO) declared a $0.10 per share distribution from net investment income, payable on June 1, 2023. This is the second payment towards the Fund's 6% annual minimum distribution rate for the year. For the first quarter ended March 31, 2023, the Fund reported a total return of -2.8% on net asset value, compared to -3.2% for its benchmark. The total return on market price was -5.3%. On an annual basis, the net asset value return was 10.2%, slightly outperforming the benchmark at 9.8%. The Fund's net assets have increased to $627.2 million from $598 million year-on-year, with shares outstanding rising to 25.08 million.

Positive

• Declared a distribution of $0.10 per share, enhancing shareholder value.
• Net assets increased to $627.2 million from $598 million year-on-year.
• Achieved a 10.2% total return on net asset value over the last twelve months, outperforming the benchmark.

Negative

• Total return on market price declined by 5.3% for the first quarter.
• First quarter total return on net asset value was negative at -2.8%.

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.

FAQ

What is the recent distribution declared by Adams Natural Resources Fund (PEO)?

Adams Natural Resources Fund declared a distribution of $0.10 per share, payable on June 1, 2023.

How did Adams Natural Resources Fund (PEO) perform in Q1 2023?

The Fund reported a total return of -2.8% on net asset value for Q1 2023.

What were the annual returns for Adams Natural Resources Fund (PEO) as of March 31, 2023?

The annual total return on net asset value was 10.2%, while the market price return was -5.8%.

What is the net asset value of Adams Natural Resources Fund (PEO) as of March 31, 2023?

The net asset value of the Fund was $25.00 per share, with total net assets of $627.2 million.