STOCK TITAN

Adams Natural Resources Fund Reports Nine Month Results

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags

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.

Il Adams Natural Resources Fund (NYSE: PEO) ha riportato i risultati dei nove mesi terminati il 30 settembre 2024. Il rendimento totale del valore netto degli attivi del fondo è stato del 10,2%, superando il rendimento del benchmark pari al 9,5%. Il rendimento totale del prezzo di mercato del fondo è stato del 16,3% per lo stesso periodo. Per i 12 mesi terminati il 30 settembre, il rendimento totale dell’NAV del fondo è stato del 6,2%, sorpassando il 4,9% del benchmark, mentre il rendimento totale del prezzo di mercato ha raggiunto il 9,2%.

Il valore netto degli attivi del fondo al 30 settembre 2024 era di 681.420.546 dollari con 25.728.942 azioni in circolazione, risultando in un NAV per azione di 26,48 dollari. Le principali partecipazioni includono Exxon Mobil (25,6%) e Chevron (11,2%). Il portafoglio del fondo è pesantemente orientato verso il settore energetico, con Petrolio e Gas Integrati (37,4%) ed Esplorazione e Produzione (18,3%) che rappresentano i pesi industriali più significativi.

El Adams Natural Resources Fund (NYSE: PEO) reportó sus resultados de nueve meses que finalizaron el 30 de septiembre de 2024. El rendimiento total del valor neto de los activos del fondo fue del 10.2%, superando el rendimiento del benchmark que fue del 9.5%. El rendimiento total del precio de mercado del fondo fue del 16.3% durante el mismo período. Para los 12 meses finalizados el 30 de septiembre, el rendimiento total del NAV del fondo fue del 6.2%, superando el 4.9% del benchmark, mientras que el rendimiento total del precio de mercado alcanzó el 9.2%.

El valor neto de los activos del fondo al 30 de septiembre de 2024 era de $681,420,546 con 25,728,942 acciones en circulación, resultando en un NAV por acción de $26.48. Las principales participaciones incluyen Exxon Mobil (25.6%) y Chevron (11.2%). El portafolio del fondo está fuertemente inclinado hacia el sector energético, con Petróleo y Gas Integrados (37.4%) y Exploración y Producción (18.3%) como las mayores ponderaciones industriales.

아담스 자연 자원 펀드(NYSE: PEO)는 2024년 9월 30일 기준으로 종료된 9개월의 결과를 보고했습니다. 펀드의 순자산 가치 총 수익률10.2%로, 벤치마크의 9.5% 수익률을 초과했습니다. 같은 기간 동안 펀드의 시장 가격 총 수익률16.3%였습니다. 9월 30일 종결된 12개월 동안 펀드의 NAV 총 수익률은 6.2%로, 벤치마크의 4.9%를 초과했으며, 시장 가격 총 수익률은 9.2%에 도달했습니다.

2024년 9월 30일 기준으로 펀드의 순자산 가치$681,420,546였으며, 25,728,942주가 유통되고 있어 주당 $26.48의 NAV가 산출되었습니다. 주요 보유 자산에는 엑슨 모빌(25.6%)과 셰브론(11.2%)이 포함됩니다. 펀드의 포트폴리오는 에너지 부문에 크게 비중을 두고 있으며, 통합 석유 및 가스(37.4%)와 탐사 및 생산(18.3%)이 가장 큰 산업 비중을 차지하고 있습니다.

Le Adams Natural Resources Fund (NYSE: PEO) a publié ses résultats de neuf mois se terminant le 30 septembre 2024. Le rendement total de la valeur nette des actifs du fonds était de 10,2%, dépassant le rendement de l'indice de référence qui s'élevait à 9,5%. Le rendement total du prix de marché du fonds a été de 16,3% pour la même période. Pour les 12 mois se terminant le 30 septembre, le rendement total de la NAV du fonds était de 6,2%, surpassant le 4,9% de l’indice de référence, tandis que le rendement total du prix de marché a atteint 9,2%.

La valeur nette des actifs du fonds au 30 septembre 2024 était de 681 420 546 dollars avec 25 728 942 actions en circulation, ce qui donne un NAV par action de 26,48 dollars. Les principales participations comprennent Exxon Mobil (25,6%) et Chevron (11,2%). Le portefeuille du fonds est fortement axé sur le secteur de l'énergie, avec le pétrole et le gaz intégrés (37,4%) et l'exploration et la production (18,3%) représentant les plus grands poids industriels.

Der Adams Natural Resources Fund (NYSE: PEO) hat seine Neunmonats 결과 zum 30. September 2024 veröffentlicht. Die Gesamtrendite des Nettovermögenswerts des Fonds betrug 10,2%, was die Rendite des Benchmarks von 9,5% übertraf. Die Gesamtrendite des Marktpreises des Fonds betrug im selben Zeitraum 16,3%. Für die 12 Monate bis zum 30. September betrug die Gesamtrendite des NAV des Fonds 6,2% und übertraf damit den Benchmark von 4,9%, während die Gesamtrendite des Marktpreises 9,2% erreichte.

Der Nettovermögenswert des Fonds zum 30. September 2024 lag bei 681.420.546 USD mit 25.728.942 ausstehenden Aktien, was zu einem NAV pro Aktie von 26,48 USD führt. Zu den wichtigsten Beteiligungen zählen Exxon Mobil (25,6%) und Chevron (11,2%). Das Portfolio des Fonds ist stark auf den Energiesektor ausgerichtet, wobei Integrierte Öl- und Gasunternehmen (37,4%) und Exploration und Produktion (18,3%) die größten Industrieanteile ausmachen.

Positive
  • Fund's 9-month NAV total return of 10.2% outperformed its benchmark's 9.5% return
  • Market price total return of 16.3% for the 9-month period
  • 12-month NAV total return of 6.2% surpassed the benchmark's 4.9%
  • Net assets increased to $681,420,546 from $678,249,981 year-over-year
  • Strong performance in Materials sector holdings with 25.2% 1-year return
Negative
  • NAV per share decreased from $27.10 to $26.48 year-over-year
  • Energy sector underperformed with only 0.9% 1-year return compared to Materials sector's 25.2%

Insights

The Adams Natural Resources Fund's performance report for the nine months ended September 30, 2024, shows positive results. The fund's net asset value (NAV) total return of 10.2% outperformed its benchmark by 0.7%, indicating strong management and stock selection. The market price return of 16.3% suggests investor optimism exceeding NAV growth.

Long-term performance is also solid, with the fund outperforming its benchmark across 1-year, 3-year and 5-year periods. The 10-year annualized return of 4.4% slightly lags the S&P 500 Materials Sector but outpaces the Energy Sector, reflecting the challenges faced by energy investments over the past decade.

The fund's portfolio remains heavily concentrated in energy, with 64.8% of net assets in the top 10 holdings. This concentration, while potentially offering higher returns, also increases risk. The slight decrease in NAV per share from $27.10 to $26.48 year-over-year, despite overall positive returns, warrants attention and may be due to dividend distributions or share issuances.

The Adams Natural Resources Fund's sector allocations reflect a strategic positioning in the current market environment. The heavy weighting towards integrated oil & gas (37.4%) and exploration & production (18.3%) suggests a bullish outlook on traditional energy sectors, likely capitalizing on recent oil price trends and global energy demand.

The inclusion of 14.2% in chemicals and smaller allocations to metals, mining and materials indicates a diversification strategy to balance the portfolio and capture growth in non-energy commodities. This approach has likely contributed to the fund's outperformance of its benchmark.

Investor sentiment appears strong, as evidenced by the market price return (16.3%) significantly exceeding the NAV return (10.2%) over the nine-month period. This premium suggests market expectations of continued strong performance or potential undervaluation of the fund's assets. However, investors should be aware of the concentration risk, with nearly 65% of assets in just ten holdings, predominantly in the energy sector.

BALTIMORE, Oct. 17, 2024 (GLOBE NEWSWIRE) -- Adams Natural Resources Fund, Inc. (NYSE: PEO) today announced the Fund’s results for the nine months ended September 30th. 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 9.5% for the Fund’s benchmark, which is comprised of the S&P 500 Energy Sector (80% weight) and the S&P 500 Materials Sector (20% weight), over the same period. The total return on the market price of the Fund’s shares for the period was 16.3%.

For the twelve months ended September 30th, the total return on Adams Natural Resources’ net asset value, with dividends and capital gains reinvested, was 6.2%. Comparable return for the Fund’s benchmark was 4.9%. The total return on the market price of the Fund’s shares for the period was 9.2%.

The Third Quarter Report to Shareholders is expected to be available on or about October 23, 2024.

 
ANNUALIZED COMPARATIVE RETURNS (9/30/2024)
 
 1 Year3 Year5 Year10 Year
Adams Natural Resources Fund (NAV)6.2%21.8%14.6%4.4%
Adams Natural Resources Fund (market price)9.2%22.1%15.5%4.8%
S&P 500 Energy Sector0.9%24.1%13.9%4.0%
S&P 500 Materials Sector25.2%9.1%13.0%9.1%
     


NET ASSET VALUE ANNOUNCED
 
The Fund’s net asset value at September 30, 2024, compared with the year earlier, was:
 
 9/30/20249/30/2023
Net assets$681,420,546$678,249,981
Shares outstanding25,728,94225,024,860
Net asset value per share$26.48$27.10
   


TEN LARGEST EQUITY PORTFOLIO HOLDINGS (9/30/2024)
 
 % of Net Assets
Exxon Mobil Corporation25.6%
Chevron Corporation11.2%
ConocoPhillips5.4%
Linde plc4.7%
EOG Resources, Inc.3.9%
Marathon Petroleum Corporation3.3%
Williams Companies, Inc.3.0%
Hess Corporation2.8%
ONEOK, Inc.2.5%
Valero Energy Corporation2.4%
Total64.8%
  


INDUSTRY WEIGHTINGS (9/30/2024)
 
 % of Net Assets
Energy 
Integrated Oil & Gas37.4%
Exploration & Production18.3%
Storage & Transportation8.2%
Refining & Marketing7.6%
Equipment & Services5.9%
Energy Related1.0%
Materials 
Chemicals14.2%
Metals & Mining4.0%
Construction Materials1.3%
Containers & Packaging1.2%
  

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 a minimum annual distribution rate of 8% of NAV paid evenly each quarter throughout the year, providing reliability for long-term shareholders. A portion of any distribution may be treated as paid from sources other than net income, including but not limited to short-term capital gain, long-term capital gain, and return of capital. The final determination of the source of all distributions for tax reporting purposes in a calendar year, including the percentage of qualified dividend income, will be made after year-end. 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 │800.638.2479


FAQ

What was Adams Natural Resources Fund's (PEO) 9-month total return on NAV as of September 30, 2024?

Adams Natural Resources Fund (PEO) reported a 10.2% total return on net asset value for the nine months ended September 30, 2024.

How did PEO's performance compare to its benchmark for the 9-month period ending September 30, 2024?

PEO outperformed its benchmark, achieving a 10.2% total return compared to the benchmark's 9.5% return for the nine-month period.

What was the market price total return for PEO shares in the 12 months ended September 30, 2024?

The total return on the market price of PEO shares for the 12 months ended September 30, 2024, was 9.2%.

What are the top two holdings in PEO's portfolio as of September 30, 2024?

As of September 30, 2024, PEO's top two holdings were Exxon Mobil at 25.6% and Chevron at 11.2% of net assets.

Adams Natural Resources Fund, Inc.

NYSE:PEO

PEO Rankings

PEO Latest News

PEO Stock Data

615.98M
25.73M
0.5%
40.5%
1.55%
Asset Management
Financial Services
Link
United States of America
Baltimore