Marine Petroleum Trust (NASDAQ:MARPS) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Marine Petroleum Trust (NASDAQ:MARPS) in a research note released on Sunday morning. The firm issued a hold rating on the energy company’s stock.

Marine Petroleum Trust Stock Up 1.5 %

Shares of NASDAQ MARPS opened at $4.16 on Friday. The firm has a market cap of $8.32 million, a PE ratio of 10.40 and a beta of 0.24. The company’s fifty day simple moving average is $4.07 and its 200 day simple moving average is $4.12. Marine Petroleum Trust has a 12-month low of $3.77 and a 12-month high of $6.50.

Marine Petroleum Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, August 30th were issued a $0.095 dividend. This is a boost from Marine Petroleum Trust’s previous quarterly dividend of $0.06. This represents a $0.38 dividend on an annualized basis and a dividend yield of 9.13%. The ex-dividend date of this dividend was Friday, August 30th. 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.