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

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

Marine Petroleum Trust Price Performance

Marine Petroleum Trust stock traded down $0.02 during trading on Friday, reaching $4.35. 2,362 shares of the company were exchanged, compared to its average volume of 34,810. Marine Petroleum Trust has a 52-week low of $4.05 and a 52-week high of $6.49. The company has a market capitalization of $8.70 million, a P/E ratio of 13.59 and a beta of 0.38. The stock’s 50 day simple moving average is $4.67 and its two-hundred day simple moving average is $4.84.

Marine Petroleum Trust Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Monday, August 31st will be given a $0.0954 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 8.8%. This is a drop from Marine Petroleum Trust’s previous quarterly dividend of $0.0965. The ex-dividend date is Monday, August 31st. Marine Petroleum Trust’s dividend payout ratio (DPR) is currently 118.75%.

Wall Street Analysts Forecast Growth

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

Check Out Our Latest Research Report on MARPS

Marine Petroleum Trust Company Profile

(Get Free Report)

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.

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Earnings History for Marine Petroleum Trust (NASDAQ:MARPS)

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