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

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

Marine Petroleum Trust Stock Up 0.7 %

NASDAQ MARPS opened at $4.14 on Friday. The company has a 50-day moving average price of $3.93 and a 200-day moving average price of $4.14. Marine Petroleum Trust has a 52 week low of $3.77 and a 52 week high of $6.50. The firm has a market capitalization of $8.28 million, a P/E ratio of 10.35 and a beta of 0.23.

Marine Petroleum Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a dividend yield of 9.18%. The ex-dividend date of this dividend is Friday, August 30th. This is a boost from Marine Petroleum Trust’s previous quarterly dividend of $0.06. Marine Petroleum Trust’s dividend payout ratio (DPR) 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.