StockNews.com initiated coverage on shares of Marine Petroleum Trust (NASDAQ:MARPS – Free Report) in a research note released on Saturday. The firm issued a hold rating on the energy company’s stock.
Marine Petroleum Trust Price Performance
MARPS opened at $4.00 on Friday. The stock has a market capitalization of $8 million, a P/E ratio of 10.00 and a beta of 0.24. The company’s 50 day simple moving average is $4.06 and its 200-day simple moving average is $4.12. Marine Petroleum Trust has a one year low of $3.77 and a one year high of $6.50.
Marine Petroleum Trust Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, August 30th were paid a $0.095 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 9.50%. This is an increase from Marine Petroleum Trust’s previous quarterly dividend of $0.06. Marine Petroleum Trust’s dividend payout ratio is 95.00%.
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.
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