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

Posted by ABMN Staff on Nov 17th, 2024

StockNews.com assumed coverage on shares of Marine Petroleum Trust (NASDAQ:MARPS – Free Report) in a report issued on Wednesday. The brokerage issued a hold rating on the energy company’s stock.

Marine Petroleum Trust Stock Up 2.6 %

Shares of MARPS stock opened at $3.95 on Wednesday. The stock has a 50-day simple moving average of $4.06 and a 200 day simple moving average of $4.04. The stock has a market capitalization of $7.90 million, a P/E ratio of 10.68 and a beta of 0.24. Marine Petroleum Trust has a fifty-two week low of $3.77 and a fifty-two week high of $6.50.

Marine Petroleum Trust (NASDAQ:MARPS – Get Free Report) last released its earnings results on Monday, September 30th. The energy company reported $0.09 EPS for the quarter. The business had revenue of $0.23 million during the quarter. Marine Petroleum Trust had a net margin of 68.94% and a return on equity of 74.22%.

Marine Petroleum Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, August 30th were paid a $0.095 dividend. This is a positive change from Marine Petroleum Trust’s previous quarterly dividend of $0.06. The ex-dividend date was Friday, August 30th. This represents a $0.38 dividend on an annualized basis and a yield of 9.62%. Marine Petroleum Trust’s dividend payout ratio (DPR) is currently 102.70%.

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.