Marine Petroleum Trust (NASDAQ:MARPS – Get Free Report) crossed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $4.42 and traded as high as $4.45. Marine Petroleum Trust shares last traded at $4.45, with a volume of 7,314 shares.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings upgraded shares of Marine Petroleum Trust from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, September 28th. One analyst has rated the stock with a Hold rating. Based on data from MarketBeat, Marine Petroleum Trust currently has an average rating of “Hold”.
Check Out Our Latest Report on Marine Petroleum Trust
Marine Petroleum Trust Price Performance
The company has a market cap of $8.90 million, a price-to-earnings ratio of 13.09 and a beta of 0.37. The business has a 50 day simple moving average of $4.42 and a 200 day simple moving average of $4.75.
Marine Petroleum Trust (NASDAQ:MARPS – Get Free Report) last announced its earnings results on Friday, September 25th. The energy company reported $0.10 earnings per share for the quarter. Marine Petroleum Trust had a return on equity of 69.15% and a net margin of 67.00%. The company had revenue of $0.26 million during the quarter.
Marine Petroleum Trust Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Shareholders of record on Monday, August 31st were issued a dividend of $0.0954 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $0.38 dividend on an annualized basis and a yield of 8.6%. This is a decrease from Marine Petroleum Trust’s previous quarterly dividend of $0.0965. Marine Petroleum Trust’s payout ratio is currently 111.76%.
About Marine Petroleum Trust
Marine Petroleum Trust is a publicly traded royalty trust organized to receive income from oil and natural gas properties. The trust does not operate drilling rigs or provide energy services directly; instead, it holds royalty interests in producing and prospective oil and gas assets and distributes the resulting proceeds to its unit holders after expenses and other obligations.
The trust’s interests are primarily associated with offshore properties in the Gulf of Mexico, including areas off the coasts of Louisiana and Texas.
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