Marine Petroleum Trust (NASDAQ:MARPS) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Marine Petroleum Trust (NASDAQ:MARPS) in a research note issued to investors on Wednesday morning. The brokerage issued a hold rating on the energy company’s stock.

Marine Petroleum Trust Stock Performance

Shares of NASDAQ:MARPS opened at $4.30 on Wednesday. The business has a 50-day simple moving average of $3.93 and a two-hundred day simple moving average of $3.98. The firm has a market cap of $8.60 million, a price-to-earnings ratio of 11.62 and a beta of 0.26. Marine Petroleum Trust has a fifty-two week low of $3.76 and a fifty-two week high of $6.50.

Marine Petroleum Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, November 29th were paid a dividend of $0.1029 per share. This is an increase from Marine Petroleum Trust’s previous quarterly dividend of $0.09. This represents a $0.41 dividend on an annualized basis and a dividend yield of 9.57%. The ex-dividend date was Friday, November 29th. Marine Petroleum Trust’s payout ratio is currently 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.