Petroleum & Resources Provides Year-To-Date Update At Annual Meeting In Baltimore
BALTIMORE, March 23 /PRNewswire-FirstCall/ -- Petroleum & Resources Corporation (NYSE: PEO) held its 81st Annual Meeting of Stockholders in Baltimore today and provided this update on year-to-date activity through March 19, 2010:
PERFORMANCE AND REALIZED CAPITAL GAINS
The year-to-date total return for the Corporation, including the reinvestment of income dividends as well as capital gains distributions paid, was 0.9% on net asset value and 0.1% on market value. Comparable figures for the Dow Jones U.S. Oil & Gas Index, the Dow Jones U.S. Basic Materials Index, and the Standard & Poor's 500 Index were 0.0%, 4.6%, and 4.5%, respectively. Net realized capital gains for the Corporation were $0.13 per share.
SECURITIES TRANSACTIONSSince January 1, 2010, the Corporation has added three new names to its portfolio with the purchases of shares of Newfield Exploration Company, Praxair, Inc., and Schlumberger Ltd. The Corporation added to its existing holdings in Cliffs Natural Resources, Freeport-McMoRan Copper & Gold, Pioneer Natural Resources, and Southwestern Energy, and has reduced its holdings in Complete Production Services, ConocoPhillips, Energen, Massey Energy, Noble Corp., Northwest Natural Gas, WGL Holdings, and XTO Energy. The Corporation holds 1.4% of net assets in net cash and short-term investments. Petroleum & Resources Corporation is a Baltimore-based closed-end investment company. It is traded on the New York Stock Exchange under the symbol PEO. For further information please contact: Lawrence L. Hooper, Jr., Vice President, General Counsel and Secretary 410-752-5900 or 800-638-2479 E-mail: firstname.lastname@example.org Website: www.peteres.com For your convenience, all press releases are posted to our website. If you would like to receive future press releases by fax or e-mail, please let us know. SOURCE Petroleum & Resources Corporation
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV