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

StockNews.com started coverage on shares of Marine Petroleum Trust (NASDAQ:MARPS) in a research report sent to investors on Wednesday morning. The brokerage issued a hold rating on the energy company’s stock.

Marine Petroleum Trust Stock Up 3.4 %

MARPS opened at $4.30 on Wednesday. Marine Petroleum Trust has a 52 week low of $3.76 and a 52 week high of $6.50. The firm has a 50-day simple moving average of $3.93 and a two-hundred day simple moving average of $3.98. The company has a market capitalization of $8.60 million, a PE ratio of 11.62 and a beta of 0.26.

Marine Petroleum Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, November 29th were given a dividend of $0.1029 per share. This is an increase from Marine Petroleum Trust’s previous quarterly dividend of $0.09. This represents a $0.41 dividend on an annualized basis and a dividend yield of 9.57%. The ex-dividend date was Friday, November 29th. Marine Petroleum Trust’s dividend payout ratio is currently 110.81%.

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.