Marine Petroleum Trust (NASDAQ:MARPS) Share Price Passes Below 200 Day Moving Average – Here’s What Happened

Marine Petroleum Trust (NASDAQ:MARPS) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.80 and traded as low as $4.70. Marine Petroleum Trust shares last traded at $4.7950, with a volume of 21,629 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wall Street Zen upgraded Marine Petroleum Trust to a “hold” rating in a research note on Saturday, March 21st. Weiss Ratings lowered shares of Marine Petroleum Trust from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, July 2nd. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold”.

Marine Petroleum Trust Price Performance

The firm has a market capitalization of $9.59 million, a P/E ratio of 14.98 and a beta of 0.38. The firm’s fifty day moving average price is $4.76 and its 200-day moving average price is $4.80.

Marine Petroleum Trust (NASDAQ:MARPS) last issued its quarterly earnings results on Thursday, May 14th. The energy company reported $0.07 earnings per share for the quarter. The company had revenue of $0.23 million during the quarter. Marine Petroleum Trust had a net margin of 65.28% and a return on equity of 66.30%.

Marine Petroleum Trust Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Friday, May 29th were given a $0.0965 dividend. The ex-dividend date was Friday, May 29th. This represents a $0.39 dividend on an annualized basis and a dividend yield of 8.0%. Marine Petroleum Trust’s dividend payout ratio (DPR) is 121.88%.

Hedge Funds Weigh In On Marine Petroleum Trust

A hedge fund recently bought a new position in Marine Petroleum Trust stock. Welch Group LLC bought a new position in Marine Petroleum Trust (NASDAQ:MARPS) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 15,956 shares of the energy company’s stock, valued at approximately $85,000. Welch Group LLC owned 0.80% of Marine Petroleum Trust as of its most recent SEC filing. 1.76% of the stock is owned by 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.