Marine Petroleum Trust (NASDAQ:MARPS) Coverage Initiated by Analysts at StockNews.com

Posted by Faye Duncan on Sep 29th, 2024

StockNews.com started 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

Shares of MARPS stock opened at $4.06 on Thursday. Marine Petroleum Trust has a 52-week low of $3.77 and a 52-week high of $6.50. The firm has a market capitalization of $8.12 million, a P/E ratio of 10.15 and a beta of 0.24. The stock has a 50 day moving average price of $3.98 and a 200 day moving average price of $4.11.

Marine Petroleum Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a dividend yield of 9.36%. The ex-dividend date of this dividend is Friday, August 30th. This is an increase from Marine Petroleum Trust’s previous quarterly dividend of $0.06. Marine Petroleum Trust’s payout ratio is currently 95.00%.

Marine Petroleum Trust Company Profile

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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.