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

StockNews.com started coverage on shares of Marine Petroleum Trust (NASDAQ:MARPS) in a research report sent to investors on Sunday morning. The firm issued a hold rating on the energy company’s stock.

Marine Petroleum Trust Stock Performance

Marine Petroleum Trust stock opened at $4.16 on Friday. Marine Petroleum Trust has a fifty-two week low of $3.77 and a fifty-two week high of $6.50. The firm’s 50-day simple moving average is $4.07 and its 200 day simple moving average is $4.12. The stock has a market cap of $8.32 million, a PE ratio of 10.40 and a beta of 0.24.

Marine Petroleum Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, August 30th were issued a $0.095 dividend. The ex-dividend date was Friday, August 30th. This is a positive change from Marine Petroleum Trust’s previous quarterly dividend of $0.06. This represents a $0.38 annualized dividend and a dividend yield of 9.13%. Marine Petroleum Trust’s dividend payout ratio is currently 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.