StockNews.com assumed coverage on shares of Marine Petroleum Trust (NASDAQ:MARPS – Free Report) in a report published on Wednesday morning. The firm issued a hold rating on the energy company’s stock.
Marine Petroleum Trust Stock Performance
MARPS stock opened at $4.39 on Wednesday. Marine Petroleum Trust has a one year low of $3.76 and a one year high of $6.50. The company has a 50 day moving average price of $3.93 and a two-hundred day moving average price of $3.98. The stock has a market capitalization of $8.78 million, a P/E ratio of 11.86 and a beta of 0.26.
Marine Petroleum Trust Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, November 29th were issued a $0.1029 dividend. This represents a $0.41 dividend on an annualized basis and a dividend yield of 9.38%. This is an increase from Marine Petroleum Trust’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Friday, November 29th. Marine Petroleum Trust’s payout ratio is 110.81%.
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.
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