StockNews.com Begins Coverage on Marine Petroleum Trust (NASDAQ:MARPS)

StockNews.com began coverage on shares of Marine Petroleum Trust (NASDAQ:MARPS) in a research note published on Wednesday morning. The brokerage issued a hold rating on the energy company’s stock.

Marine Petroleum Trust Price Performance

MARPS opened at $3.91 on Wednesday. The stock has a 50-day moving average price of $4.06 and a 200-day moving average price of $4.05. The firm has a market cap of $7.92 million, a PE ratio of 10.57 and a beta of 0.24. Marine Petroleum Trust has a 1 year low of $3.77 and a 1 year high of $6.50.

Marine Petroleum Trust (NASDAQ:MARPS) last posted its quarterly earnings results 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 75.26% and a net margin of 68.94%. The firm had revenue of $0.23 million during the quarter.

Marine Petroleum Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, August 30th were paid a dividend of $0.095 per share. This is an increase from Marine Petroleum Trust’s previous quarterly dividend of $0.06. This represents a $0.38 dividend on an annualized basis and a dividend yield of 9.72%. The ex-dividend date was Friday, August 30th. Marine Petroleum Trust’s payout ratio is currently 102.70%.

About Marine Petroleum Trust

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.