Marine Petroleum Trust (NASDAQ:MARPS) Releases Quarterly Earnings Results

Marine Petroleum Trust (NASDAQ:MARPS) announced its earnings results on Friday. The energy company reported $0.10 EPS for the quarter, Zacks reports. Marine Petroleum Trust had a return on equity of 66.30% and a net margin of 65.28%.

Marine Petroleum Trust Stock Performance

Shares of NASDAQ MARPS opened at $4.31 on Friday. Marine Petroleum Trust has a 1 year low of $4.05 and a 1 year high of $6.49. The firm has a market cap of $8.62 million, a price-to-earnings ratio of 13.47 and a beta of 0.38. The stock’s 50-day simple moving average is $4.65 and its 200-day simple moving average is $4.84.

Marine Petroleum Trust Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Monday, August 31st will be given a dividend of $0.0954 per share. The ex-dividend date of this dividend is Monday, August 31st. This is a negative change from Marine Petroleum Trust’s previous quarterly dividend of $0.0965. This represents a $0.38 dividend on an annualized basis and a dividend yield of 8.9%. Marine Petroleum Trust’s dividend payout ratio is presently 118.75%.

Analyst Ratings Changes

Separately, Weiss Ratings cut Marine Petroleum Trust from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, July 2nd. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Marine Petroleum Trust Company Profile

Marine Petroleum Trust (NASDAQ: MARPS) is a grantor trust that holds royalty interests in oil and natural gas properties. Rather than operating wells or selling energy products directly, the trust receives royalty payments based on production from the properties in which it has interests.

The trust’s interests are primarily associated with offshore oil and gas properties in the Gulf of Mexico, particularly areas off the coast of Louisiana. Its cash distributions are therefore tied to production volumes, commodity prices, operating activity by the property operators and the remaining economic life of the underlying reserves.

Marine Petroleum Trust was established in 1955 and is managed under the terms of its trust agreement.