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

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

Marine Petroleum Trust Stock Down 3.5 %

Shares of MARPS stock opened at $3.87 on Wednesday. The company has a 50 day moving average of $3.96 and a 200-day moving average of $4.11. Marine Petroleum Trust has a 12-month low of $3.77 and a 12-month high of $6.50. The firm has a market cap of $7.74 million, a P/E ratio of 9.68 and a beta of 0.24.

Marine Petroleum Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, August 30th will be issued a $0.095 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.38 annualized dividend and a yield of 9.82%. This is a positive change from Marine Petroleum Trust’s previous quarterly dividend of $0.06. Marine Petroleum Trust’s dividend payout ratio (DPR) is 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.