Marine Petroleum Trust (NASDAQ:MARPS) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Marine Petroleum Trust (NASDAQ:MARPS) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $4.87 and traded as high as $4.92. Marine Petroleum Trust shares last traded at $4.81, with a volume of 8,000 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of Marine Petroleum Trust from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, July 2nd. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Marine Petroleum Trust currently has an average rating of “Hold”.

Marine Petroleum Trust Stock Performance

The company has a market cap of $9.62 million, a P/E ratio of 15.03 and a beta of 0.39. The stock has a 50 day moving average price of $4.70 and a 200 day moving average price of $4.87.

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

Marine Petroleum Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Friday, May 29th were issued a $0.0965 dividend. This represents a $0.39 dividend on an annualized basis and a yield of 8.0%. The ex-dividend date of this dividend was Friday, May 29th. Marine Petroleum Trust’s dividend payout ratio is presently 121.88%.

Hedge Funds Weigh In On Marine Petroleum Trust

A hedge fund recently bought a new stake in Marine Petroleum Trust stock. Welch Group LLC bought a new stake in shares of Marine Petroleum Trust (NASDAQ:MARPS) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,956 shares of the energy company’s stock, valued at approximately $85,000. Welch Group LLC owned about 0.80% of Marine Petroleum Trust at the end of the most recent reporting period. Institutional investors own 1.76% of the company’s stock.

Marine Petroleum Trust Company Profile

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.