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

Marine Petroleum Trust (NASDAQ:MARPS) posted its quarterly earnings data 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 Stock Performance

MARPS stock traded down $0.06 during trading on Friday, hitting $4.31. The stock had a trading volume of 2,417 shares, compared to its average volume of 34,810. The stock has a market cap of $8.62 million, a price-to-earnings ratio of 13.48 and a beta of 0.38. Marine Petroleum Trust has a 1-year low of $4.05 and a 1-year high of $6.49. The company’s 50 day moving average price is $4.67 and its two-hundred day moving average price is $4.84.

Marine Petroleum Trust Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Shareholders 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 annualized dividend and a yield of 8.8%. Marine Petroleum Trust’s dividend payout ratio (DPR) is 118.75%.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of Marine Petroleum Trust from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, July 2nd. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold”.

About Marine Petroleum Trust

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.