StockNews.com Initiates Coverage on Marine Petroleum Trust (NASDAQ:MARPS)

StockNews.com initiated coverage on shares of Marine Petroleum Trust (NASDAQ:MARPS) in a report issued on Monday. The firm issued a hold rating on the energy company’s stock.

Marine Petroleum Trust Stock Performance

NASDAQ MARPS opened at $3.76 on Monday. The firm’s fifty day moving average is $3.95 and its two-hundred day moving average is $3.97. Marine Petroleum Trust has a one year low of $3.76 and a one year high of $6.50.

Marine Petroleum Trust (NASDAQ:MARPS) last issued its quarterly earnings results on Monday, September 30th. The energy company reported $0.09 earnings per share (EPS) for the quarter. The firm had revenue of $0.23 million for the quarter. Marine Petroleum Trust had a return on equity of 74.22% and a net margin of 68.94%.

Marine Petroleum Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.1029 per share. This represents a $0.41 annualized dividend and a dividend yield of 10.95%. The ex-dividend date is Friday, November 29th. This is a boost from Marine Petroleum Trust’s previous quarterly dividend of $0.09. Marine Petroleum Trust’s dividend payout ratio is 110.81%.

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.