Adams Natural Resources Fund Announces 2016 Performance
BALTIMORE, Jan. 12, 2017 /PRNewswire/ -- Adams Natural Resources Fund, Inc. (NYSE: PEO) announces the Fund's investment returns for 2016. The total return on the Fund's net asset value for the twelve months ended December 31, 2016 was 22.5%, with dividends and capital gains reinvested. The comparable figures for the Lipper Global Natural Resources Funds Average, the Dow Jones U.S. Oil & Gas Index, and the Dow Jones U.S. Basic Materials Index were 24.0%, 26.3%, and 20.3%, respectively. The total return on the Fund's market price for the same period was 20.2%.
The Fund paid $1.14 per share in income dividends and realized capital gain distributions to shareholders in 2016, producing an annual distribution rate of 6.1%, exceeding the Fund's annual 6% minimum distribution rate commitment. Details regarding the annual 6% minimum distribution rate commitment can be found at www.adamsfunds.com.
The 2016 Annual Report is expected to be released on or about February 24, 2017.
| ANNUALIZED ONE, THREE AND FIVE-YEAR COMPARATIVE RETURNS (12/31/16) |
|||
| 1 Year |
3 Year |
5 Year |
|
| Adams Natural Resources Fund (NAV) |
22.5% |
-3.1% |
3.3% |
| Adams Natural Resources Fund (market price) |
20.2% |
-3.4% |
2.9% |
| Lipper Global Natural Resources Funds Average |
24.0% |
-7.2% |
-1.2% |
| DJ U.S. Oil & Gas Index |
26.3% |
-3.7% |
3.4% |
| DJ U.S. Basic Materials Index |
20.3% |
2.9% |
7.7% |
| NET ASSET VALUE ANNOUNCED |
||
| The Fund's net asset value at the end of 2016, compared with the year earlier, was: |
||
| 12/31/16 |
12/31/15 |
|
| Net assets |
$685,882,029 |
$582,676,811 |
| Shares outstanding |
28,555,305 |
28,096,651 |
| Net asset value per share |
$24.02 |
$20.74 |
| TEN LARGEST EQUITY PORTFOLIO HOLDINGS (12/31/16) |
|
| % of Net Assets |
|
| Exxon Mobil Corp. |
18.5% |
| Chevron Corp. |
9.9% |
| Schlumberger Ltd. |
6.4% |
| ConocoPhillips |
4.0% |
| Occidental Petroleum Corp. |
3.9% |
| Dow Chemical Co. |
3.7% |
| Halliburton Co. |
3.7% |
| Valero Energy Corp. |
3.0% |
| EOG Resources, Inc. |
2.9% |
| LyondellBasell Industries N.V. (Class A) |
2.9% |
| Total |
58.9% |
| SECTOR WEIGHTINGS (12/31/16) |
|
| % of Net Assets |
|
| Energy |
|
| Integrated Oil & Gas |
28.4% |
| Exploration & Production |
25.6% |
| Oil Equipment & Services |
13.9% |
| Refiners |
6.6% |
| Pipelines |
4.9% |
| Basic Materials |
|
| Chemicals |
15.6% |
| Industrial Metals |
1.6% |
| General Industrials |
0.7% |
| Gold & Precious Metals |
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 80 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: www.adamsfunds.com.
Contact:
Nancy J. Floyd Prue
Executive Vice President
Director of Shareholder Communications
[email protected]
SOURCE Adams Natural Resources Fund, Inc.
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