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

Marine Petroleum Trust (NASDAQ:MARPS) announced its quarterly earnings results on Friday. The energy company reported $0.10 earnings per share 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 Down 0.5%

NASDAQ MARPS traded down $0.02 during midday trading on Friday, hitting $4.35. The company had a trading volume of 2,362 shares, compared to its average volume of 34,810. The firm has a fifty day simple moving average of $4.67 and a two-hundred day simple moving average of $4.84. Marine Petroleum Trust has a fifty-two week low of $4.05 and a fifty-two week high of $6.49. The stock has a market cap of $8.70 million, a price-to-earnings ratio of 13.59 and a beta of 0.38.

Marine Petroleum Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.0954 per share. 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 is presently 118.75%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of 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, Based on data from MarketBeat, the company has an average 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.