StockNews.com began coverage on shares of Marine Petroleum Trust (NASDAQ:MARPS – Free Report) in a research report report published on Thursday morning. The brokerage issued a hold rating on the energy company’s stock.
Marine Petroleum Trust Stock Performance
NASDAQ:MARPS opened at $4.43 on Thursday. The stock’s 50-day moving average is $3.97 and its 200-day moving average is $3.99. Marine Petroleum Trust has a 1-year low of $3.76 and a 1-year high of $6.50.
Marine Petroleum Trust Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, November 29th were paid a dividend of $0.1029 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.41 annualized dividend and a dividend yield of 9.29%. This is an increase from Marine Petroleum Trust’s previous quarterly dividend of $0.09. Marine Petroleum Trust’s dividend payout ratio (DPR) is presently 110.81%.
Marine Petroleum Trust Company Profile
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.
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