Marine Petroleum Trust (NASDAQ:MARPS) Issues Earnings Results

Marine Petroleum Trust (NASDAQ:MARPS) posted its quarterly earnings results on Thursday. The energy company reported $0.07 EPS for the quarter, Zacks reports. Marine Petroleum Trust had a return on equity of 76.87% and a net margin of 69.73%.

Marine Petroleum Trust Trading Down 2.1%

MARPS traded down $0.10 on Thursday, hitting $4.36. 1,645 shares of the stock traded hands, compared to its average volume of 32,303. The business has a fifty day moving average price of $4.66 and a two-hundred day moving average price of $4.49. The firm has a market capitalization of $8.71 million, a PE ratio of 12.10 and a beta of 0.21. Marine Petroleum Trust has a 52 week low of $3.34 and a 52 week high of $7.90.

Marine Petroleum Trust Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, August 29th were paid a dividend of $0.0681 per share. This represents a $0.27 annualized dividend and a yield of 6.3%. The ex-dividend date was Friday, August 29th. Marine Petroleum Trust’s dividend payout ratio is presently 75.00%.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of Marine Petroleum Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.

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.