Marine Petroleum Trust (NASDAQ:MARPS) Share Price Passes Above Fifty Day Moving Average – Here’s What Happened

Marine Petroleum Trust (NASDAQ:MARPS) crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $4.33 and traded as high as $4.64. Marine Petroleum Trust shares last traded at $4.57, with a volume of 18,062 shares.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Marine Petroleum Trust in a report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Marine Petroleum Trust Trading Down 0.9%

The stock has a market cap of $9.14 million, a P/E ratio of 14.74 and a beta of 0.28. The business’s fifty day simple moving average is $4.33 and its 200 day simple moving average is $4.52.

Marine Petroleum Trust (NASDAQ:MARPS) last announced its earnings results on Thursday, November 13th. The energy company reported $0.07 earnings per share (EPS) for the quarter. Marine Petroleum Trust had a net margin of 64.77% and a return on equity of 67.66%. The company had revenue of $0.22 million for the quarter.

Marine Petroleum Trust Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 29th. Shareholders of record on Friday, November 28th were issued a dividend of $0.0491 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.20 annualized dividend and a yield of 4.3%. Marine Petroleum Trust’s dividend payout ratio is currently 64.52%.

Institutional Investors Weigh In On Marine Petroleum Trust

A hedge fund recently bought a new stake in Marine Petroleum Trust stock. Azzad Asset Management Inc. ADV purchased a new stake in shares of Marine Petroleum Trust (NASDAQ:MARPS) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,600 shares of the energy company’s stock, valued at approximately $102,000. Azzad Asset Management Inc. ADV owned 1.23% of Marine Petroleum Trust as of its most recent SEC filing. 1.76% of the stock is currently owned by hedge funds and other institutional investors.

About Marine Petroleum Trust

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.