Short Interest in Marine Petroleum Trust (NASDAQ:MARPS) Drops By 43.2%

Marine Petroleum Trust (NASDAQ:MARPS) was the target of a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 5,631 shares, a drop of 43.2% from the May 14th total of 9,917 shares. Based on an average daily trading volume, of 10,989 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.3% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MARPS. Weiss Ratings cut Marine Petroleum Trust from a “hold (c+)” rating to a “hold (c-)” rating in a research note on Friday, May 22nd. Wall Street Zen upgraded Marine Petroleum Trust to a “hold” rating in a research note on Saturday, March 21st. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold”.

Marine Petroleum Trust Stock Performance

Shares of MARPS traded down $0.32 on Monday, reaching $4.32. The stock had a trading volume of 13,080 shares, compared to its average volume of 15,511. The firm has a market capitalization of $8.64 million, a price-to-earnings ratio of 13.50 and a beta of 0.37. The company has a 50-day simple moving average of $4.95 and a 200-day simple moving average of $4.78. Marine Petroleum Trust has a 12-month low of $4.05 and a 12-month high of $7.90.

Marine Petroleum Trust (NASDAQ:MARPS) last released its earnings results on Thursday, May 14th. The energy company reported $0.07 EPS for the quarter. The company had revenue of $0.23 million during the quarter. Marine Petroleum Trust had a return on equity of 66.30% and a net margin of 65.28%.

Marine Petroleum Trust Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be given a dividend of $0.0965 per share. This represents a $0.39 dividend on an annualized basis and a yield of 8.9%. The ex-dividend date of this dividend is Friday, May 29th. Marine Petroleum Trust’s dividend payout ratio (DPR) is 121.88%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake 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 disclosure with the SEC. The firm acquired 15,956 shares of the energy company’s stock, valued at approximately $85,000. Welch Group LLC owned approximately 0.80% of Marine Petroleum Trust as of its most recent SEC filing. 1.76% of the stock is owned by hedge funds and other institutional investors.

About Marine Petroleum Trust

Marine Petroleum Trust is a royalty trust that holds overriding royalty interests in petroleum and natural gas production assets on Alaska’s North Slope. Established in 1998, the trust’s primary asset is its net profits interest in the Nikaitchuq Unit, a large oil field operated under state and federal leases. Rather than engaging in exploration or production itself, Marine Petroleum Trust receives income in the form of royalties and net profits from production activities carried out by the unit operator.

The trust’s revenues are generated solely by hydrocarbons extracted from the Nikaitchuq field, with crude oil transported via the Trans-Alaska Pipeline System.