Marine Petroleum Trust (NASDAQ:MARPS) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Marine Petroleum Trust (NASDAQ:MARPS) in a research report report published on Thursday morning. The firm issued a hold rating on the energy company’s stock.

Marine Petroleum Trust Stock Performance

NASDAQ MARPS opened at $4.00 on Thursday. The stock has a market capitalization of $7.90 million, a price-to-earnings ratio of 10.81 and a beta of 0.24. The stock’s 50 day moving average price is $4.06 and its two-hundred day moving average price is $4.04. Marine Petroleum Trust has a 52 week low of $3.77 and a 52 week high of $6.50.

Marine Petroleum Trust (NASDAQ:MARPS) last announced its quarterly earnings data on Monday, September 30th. The energy company reported $0.09 earnings per share (EPS) for the quarter. Marine Petroleum Trust had a return on equity of 74.22% and a net margin of 68.94%. The company had revenue of $0.23 million for the quarter.

Marine Petroleum Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.1029 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.41 dividend on an annualized basis and a dividend yield of 10.29%. This is a boost from Marine Petroleum Trust’s previous quarterly dividend of $0.09. Marine Petroleum Trust’s dividend payout ratio is currently 102.70%.

Marine Petroleum Trust Company Profile

Marine Petroleum Trust, together with its subsidiary, Marine Petroleum Corporation, operates as a royalty trust in the United States. It has overriding royalty interest in oil and natural gas leases in the Central and Western areas of the Gulf of Mexico off the coasts of Louisiana and Texas. Marine Petroleum Trust was founded in 1956 and is based in Dallas, Texas.