 Petroleum & Resources Announces 2009 Performance
Petroleum & Resources Corporation
Baltimore, MD, January 14, 2010 -- Petroleum & Resources Corporation (PEO) announces the Corporation's performance for 2009.
2009 INVESTMENT RETURNS
For the twelve months ended December 31, 2009, the total return on Petroleum & Resources' net asset value, with dividends and capital gains reinvested, was (26.7)%. Comparable figures for the S&P 500 Index and Dow Jones Oil & Gas Index were (17.3)%, (65.5), and (26.5)%, respectively. The total return on Petroleum & Resources' market value was (30.3)%.
The annual rate of distribution to stockholders (the total dividends and capital gains distributed during the year divided by the average daily market price of the Corporation's stock) was 6.6%.
NET ASSET VALUE ANNOUNCED
The net asset value of Petroleum & Resources at the end of 2009 is compared with the prior year in the following table:
|
Net Asset Value |
12/31/09 |
12/31/08 |
|
Net assets |
$650,718,323 |
$538,936,942 |
|
Shares outstanding |
24,327,307 |
23,958,656 |
|
Net assets per share |
$26.75 |
$22.49 |
SECURITIES TRANSACTIONS DURING THE FOURTH QUARTER
During the fourth queter, the Corporation added four new names to its investment portfolio through the purchases of Cliffs Natural Resources, Inc., Freeport-McMoRan Cooper & Gold Inc., Pioneer Natural Resources Co., and Potash Corporation of Saskatchewan Inc. The Corporation increased its holdings in Anadarko Petroleum, Chevron, Forest Oil, Royal Dutch Shell ADR, Southwestern Energy, and Spectra Energy. One position was eliminated from the Corporation's list of holdings with the sale of DUPont. The Corporation reduced its holdings in Devon Energy, EOG Resources, EQT Corp., Nobel Energy, and XTO Energy.
OTHER SUMMARY FINANCIAL INFORMATION
|
|
12/31/09 |
12/31/08 |
|
Unrealized Appreciation |
$253,661,346 |
$151,455,732 |
|
Net investment income |
$6,706,626 |
$9,651,706 |
|
Net realized gain |
$24,709,496 |
$82,692,239 |
|
Key Ratios |
12/31/09 |
12/31/08 |
|
Net investment income to average assets |
1.18% |
1.10% |
|
Expense ratio |
0.51% |
0.51% |
|
Portfolio Turnover |
14.35% |
16.89% |
| Net cash & short-term Investments to net assets |
3.8% |
12.2% |
TEN LARGEST PORTFOLIO HOLDINGS (12/31/09)
|
|
% of Net Assets |
|
Chevron |
11.1 |
|
Exxon Mobil |
10.7 |
|
Occidental Petroleum |
5.5 |
| Nobel Corp. |
4.9 |
| Transocean Inc. |
3.9 |
| XTO Energy Inc. |
3.3 |
| Halliburton Co. |
3.2 |
| ConocoPhillips |
3.2 |
| Apache |
3.2 |
| Royal Dutch Shell plc ADR |
3.0 |
|
52.0% |
SECTOR WEIGHTINGS (12/31/09)
|
|
% of Net Assets |
|
Integrated |
32.3% |
|
Exploration & Production |
21.7% |
|
Services |
17.2% |
| Utilities |
16.6% |
| Basic Materials and Other |
8.4% |
| Short-Term Investments |
4.1% |
ANNUALIZED ONE, FIVE AND TEN YEAR COMPARATIVE RETURNS
|
Returns on net asset value (12/31/09) |
|
|
|
|
1 Year |
5 Year |
10 Year |
|
Petroleum & Resources |
26.7% |
8.8% |
8.1% |
|
DJ U.S. Oil & Gas Index |
17.3% |
10.8% |
10.4% |
|
DJ U.S. Basic Materials Index |
65.5% |
6.0% |
4.9% |
Petroleum & Resources Corporation is a Baltimore-based closed-end investment company. Its stock trades on the New York Stock Exchange under the ticker symbol PEO.
View more information on Petroleum & Resources Corporation or other Closed-End Funds
|
©1999-2010 Closed-End Fund Association, Inc. All Rights Reserved
 | | Powered by a SySys® data & content management system. Click here to learn more. |
|
|