StockNews.com Begins Coverage on Marine Petroleum Trust (NASDAQ:MARPS)

StockNews.com started coverage on shares of Marine Petroleum Trust (NASDAQ:MARPS) in a report issued on Sunday morning. The firm issued a hold rating on the energy company’s stock.

Marine Petroleum Trust Stock Performance

Marine Petroleum Trust stock opened at $4.10 on Friday. The stock has a 50-day simple moving average of $4.07 and a 200 day simple moving average of $4.11. The stock has a market capitalization of $8.20 million, a P/E ratio of 10.25 and a beta of 0.24. Marine Petroleum Trust has a 52 week low of $3.77 and a 52 week high of $6.50.

Marine Petroleum Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, August 30th were given a $0.095 dividend. This is an increase from Marine Petroleum Trust’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.38 annualized dividend and a dividend yield of 9.27%. Marine Petroleum Trust’s dividend payout ratio is presently 95.00%.

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.