StockNews.com assumed coverage on shares of Marine Petroleum Trust (NASDAQ:MARPS – Free Report) in a report released on Tuesday. The firm issued a hold rating on the energy company’s stock.
Marine Petroleum Trust Price Performance
MARPS opened at $3.97 on Tuesday. The stock has a 50-day moving average price of $3.95 and a 200-day moving average price of $4.12. The firm has a market cap of $7.94 million, a PE ratio of 9.93 and a beta of 0.24. Marine Petroleum Trust has a 1 year low of $3.77 and a 1 year high of $6.50.
Marine Petroleum Trust Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 30th will be given a $0.095 dividend. This represents a $0.38 annualized dividend and a dividend yield of 9.57%. The ex-dividend date is Friday, August 30th. This is a positive change from Marine Petroleum Trust’s previous quarterly dividend of $0.06. Marine Petroleum Trust’s payout ratio is currently 95.00%.
Marine Petroleum Trust Company Profile
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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