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

Posted by ABMN Staff on Apr 19th, 2024

Equities researchers at StockNews.com started coverage on shares of Marine Petroleum Trust (NASDAQ:MARPS – Get Free Report) in a note issued to investors on Friday. The brokerage set a “hold” rating on the energy company’s stock.

Separately, TheStreet downgraded Marine Petroleum Trust from a “b-” rating to a “c+” rating in a report on Wednesday, February 14th.

View Our Latest Stock Report on MARPS

Marine Petroleum Trust Stock Down 7.0 %

Marine Petroleum Trust stock opened at $4.10 on Friday. The firm has a fifty day simple moving average of $4.31 and a two-hundred day simple moving average of $4.54. The company has a market capitalization of $8.20 million, a PE ratio of 9.11 and a beta of 0.15. Marine Petroleum Trust has a twelve month low of $3.90 and a twelve month high of $7.83.

Marine Petroleum Trust (NASDAQ:MARPS – Get Free Report) last posted its quarterly earnings results on Wednesday, February 14th. The energy company reported $0.10 EPS for the quarter. The company had revenue of $0.26 million during the quarter. Marine Petroleum Trust had a net margin of 76.23% and a return on equity of 93.01%.

Institutional Investors Weigh In On Marine Petroleum Trust

A hedge fund recently bought a new stake in Marine Petroleum Trust stock. BNP Paribas Arbitrage SA acquired a new position in Marine Petroleum Trust (NASDAQ:MARPS – Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 36,069 shares of the energy company’s stock, valued at approximately $289,000. BNP Paribas Arbitrage SA owned approximately 1.80% of Marine Petroleum Trust as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 1.76% of the company’s stock.

Marine Petroleum Trust Company Profile

(Get Free Report)

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.