Marine Petroleum Trust (NASDAQ:MARPS) Short Interest Update

Marine Petroleum Trust (NASDAQ:MARPS) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 1,731 shares, a decline of 50.0% from the August 15th total of 3,465 shares. Based on an average daily volume of 4,536 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.1% of the company’s stock are short sold.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Marine Petroleum Trust stock. Welch Group LLC purchased a new position in shares of Marine Petroleum Trust (NASDAQ:MARPS) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 15,956 shares of the energy company’s stock, valued at approximately $85,000. Welch Group LLC owned approximately 0.80% of Marine Petroleum Trust at the end of the most recent reporting period. 1.76% of the stock is owned by institutional investors.

Marine Petroleum Trust Trading Up 0.2%

MARPS stock traded up $0.01 during midday trading on Wednesday, reaching $4.52. The company had a trading volume of 841 shares, compared to its average volume of 5,468. Marine Petroleum Trust has a 1 year low of $4.05 and a 1 year high of $6.49. The company has a market capitalization of $9.03 million, a P/E ratio of 14.12 and a beta of 0.38. The company has a 50 day moving average of $4.71 and a two-hundred day moving average of $4.88.

Marine Petroleum Trust Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Monday, August 31st will be issued a dividend of $0.0954 per share. This represents a $0.38 annualized dividend and a dividend yield of 8.4%. The ex-dividend date is Monday, August 31st. Marine Petroleum Trust’s dividend payout ratio (DPR) is currently 118.75%.

Wall Street Analyst Weigh In

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

Marine Petroleum Trust Company Profile

Marine Petroleum Trust is a royalty trust that holds overriding royalty interests in petroleum and natural gas production assets on Alaska’s North Slope. Established in 1998, the trust’s primary asset is its net profits interest in the Nikaitchuq Unit, a large oil field operated under state and federal leases. Rather than engaging in exploration or production itself, Marine Petroleum Trust receives income in the form of royalties and net profits from production activities carried out by the unit operator.

The trust’s revenues are generated solely by hydrocarbons extracted from the Nikaitchuq field, with crude oil transported via the Trans-Alaska Pipeline System.