StockNews.com initiated coverage on shares of Marine Petroleum Trust (NASDAQ:MARPS – Free Report) in a report published on Thursday. The firm issued a hold rating on the energy company’s stock.
Marine Petroleum Trust Stock Up 1.2 %
Shares of Marine Petroleum Trust stock opened at $4.06 on Thursday. Marine Petroleum Trust has a twelve month low of $3.77 and a twelve month high of $6.50. The business has a 50-day moving average price of $3.98 and a 200-day moving average price of $4.11. The firm has a market cap of $8.12 million, a price-to-earnings ratio of 10.15 and a beta of 0.24.
Marine Petroleum Trust Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a dividend yield of 9.36%. This is a boost from Marine Petroleum Trust’s previous quarterly dividend of $0.06. The ex-dividend date is Friday, August 30th. Marine Petroleum Trust’s dividend payout ratio is 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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