Marine Petroleum Trust (NASDAQ:MARPS) Receives New Coverage from Analysts at StockNews.com

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

Marine Petroleum Trust Price Performance

NASDAQ MARPS opened at $4.01 on Thursday. The firm’s 50-day moving average is $3.97 and its two-hundred day moving average is $4.11. Marine Petroleum Trust has a 12 month low of $3.77 and a 12 month high of $6.50. The stock has a market capitalization of $8.02 million, a P/E ratio of 10.03 and a beta of 0.24.

Marine Petroleum Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, August 30th will be given a $0.095 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.38 dividend on an annualized basis and a yield of 9.48%. This is a boost 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

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.