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

StockNews.com assumed coverage on shares of Marine Petroleum Trust (NASDAQ:MARPSFree Report) in a research note released on Monday morning. The firm issued a hold rating on the energy company’s stock.

Marine Petroleum Trust Stock Up 1.2 %

NASDAQ:MARPS opened at $4.09 on Monday. The firm has a market capitalization of $8.18 million, a P/E ratio of 10.23 and a beta of 0.24. Marine Petroleum Trust has a twelve month low of $3.77 and a twelve month high of $6.50. The company has a fifty day moving average of $4.08 and a 200-day moving average of $4.08.

Marine Petroleum Trust (NASDAQ:MARPSGet Free Report) last posted its quarterly earnings results on Monday, September 30th. The energy company reported $0.09 earnings per share for the quarter. The firm had revenue of $0.23 million during the quarter. Marine Petroleum Trust had a net margin of 68.16% and a return on equity of 74.48%.

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 issued a $0.095 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.38 annualized dividend and a yield of 9.29%. This is a positive change from Marine Petroleum Trust’s previous quarterly dividend of $0.06. Marine Petroleum Trust’s dividend payout ratio is presently 95.00%.

About Marine Petroleum Trust

(Get Free Report)

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.

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