Marine Petroleum Trust (NASDAQ:MARPS) Sees Large Decline in Short Interest

Marine Petroleum Trust (NASDAQ:MARPS) was the target of a large decline in short interest in the month of September. As of September 30th, there was short interest totaling 1,456 shares, a decline of 54.4% from the September 15th total of 3,192 shares. Based on an average trading volume of 4,749 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.1% of the shares of the company are sold short.

Marine Petroleum Trust Trading Down 1.8%

Shares of MARPS stock traded down $0.08 during trading hours on Thursday, hitting $4.42. 2,990 shares of the company’s stock were exchanged, compared to its average volume of 32,746. The company has a market capitalization of $8.84 million, a PE ratio of 13.00 and a beta of 0.37. Marine Petroleum Trust has a 12-month low of $4.04 and a 12-month high of $6.49. The business’s 50 day simple moving average is $4.52 and its 200-day simple moving average is $4.75.

Marine Petroleum Trust (NASDAQ:MARPS) last released its quarterly earnings data on Friday, September 25th. The energy company reported $0.10 earnings per share for the quarter. The firm had revenue of $0.26 million during the quarter. Marine Petroleum Trust had a return on equity of 69.15% and a net margin of 67.00%.

Marine Petroleum Trust Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Shareholders of record on Monday, August 31st were given a dividend of $0.0954 per share. This represents a $0.38 annualized dividend and a yield of 8.6%. The ex-dividend date of this dividend was Monday, August 31st. This is a negative change from Marine Petroleum Trust’s previous quarterly dividend of $0.0965. Marine Petroleum Trust’s payout ratio is presently 111.76%.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Marine Petroleum Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, September 28th. One equities research analyst has rated the stock with a Hold rating. According to MarketBeat, the stock presently has an average rating of “Hold”.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Marine Petroleum Trust stock. Welch Group LLC acquired a new stake in shares of Marine Petroleum Trust (NASDAQ:MARPS) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 15,956 shares of the energy company’s stock, valued at approximately $85,000. Welch Group LLC owned about 0.80% of Marine Petroleum Trust at the end of the most recent quarter. Institutional investors own 1.76% of the company’s stock.

Marine Petroleum Trust Company Profile

Marine Petroleum Trust is a grantor trust that owns royalty interests in oil and natural gas properties located in the Gulf of Mexico, primarily offshore Louisiana. The trust does not explore for, develop, or operate oil and gas properties itself. Instead, it receives royalty payments based on production from properties operated by third-party lessees.

The trust’s income is derived from its interests in offshore wells and is generally distributed to its beneficial owners after the payment of trust expenses and other obligations.