Short Interest in Marine Petroleum Trust (NASDAQ:MARPS) Drops By 43.2%

Marine Petroleum Trust (NASDAQ:MARPS) was the target of a large decrease in short interest in May. As of May 29th, there was short interest totaling 5,631 shares, a decrease of 43.2% from the May 14th total of 9,917 shares. Based on an average daily trading volume, of 10,989 shares, the short-interest ratio is currently 0.5 days. Approximately 0.3% of the company’s stock are sold short.

Institutional Trading of Marine Petroleum Trust

A hedge fund recently bought a new stake in Marine Petroleum Trust stock. Azzad Asset Management Inc. ADV acquired a new position in shares of Marine Petroleum Trust (NASDAQ:MARPS) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 24,600 shares of the energy company’s stock, valued at approximately $102,000. Azzad Asset Management Inc. ADV owned about 1.23% of Marine Petroleum Trust as of its most recent filing with the SEC. Hedge funds and other institutional investors own 1.76% of the company’s stock.

Marine Petroleum Trust Trading Down 0.7%

MARPS stock traded down $0.03 on Tuesday, hitting $4.29. The company’s stock had a trading volume of 4,276 shares, compared to its average volume of 15,935. The firm has a 50 day moving average of $4.93 and a two-hundred day moving average of $4.78. Marine Petroleum Trust has a 1 year low of $4.05 and a 1 year high of $7.90. The stock has a market cap of $8.58 million, a price-to-earnings ratio of 13.41 and a beta of 0.37.

Marine Petroleum Trust (NASDAQ:MARPS) last released its quarterly earnings results on Thursday, May 14th. The energy company reported $0.07 EPS for the quarter. Marine Petroleum Trust had a net margin of 65.28% and a return on equity of 66.30%. The firm had revenue of $0.23 million during the quarter.

Marine Petroleum Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be given a $0.0965 dividend. The ex-dividend date is Friday, May 29th. This represents a $0.39 annualized dividend and a yield of 9.0%. Marine Petroleum Trust’s dividend payout ratio is 121.88%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MARPS shares. Weiss Ratings cut shares of Marine Petroleum Trust from a “hold (c+)” rating to a “hold (c-)” rating in a report on Friday, May 22nd. Wall Street Zen upgraded shares of Marine Petroleum Trust to a “hold” rating in a report on Saturday, March 21st. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold”.

About Marine Petroleum Trust

Marine Petroleum Trust is a royalty trust that holds overriding royalty interests in petroleum and natural gas production assets on Alaska’s North Slope. Established in 1998, the trust’s primary asset is its net profits interest in the Nikaitchuq Unit, a large oil field operated under state and federal leases. Rather than engaging in exploration or production itself, Marine Petroleum Trust receives income in the form of royalties and net profits from production activities carried out by the unit operator.

The trust’s revenues are generated solely by hydrocarbons extracted from the Nikaitchuq field, with crude oil transported via the Trans-Alaska Pipeline System.