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

Marine Petroleum Trust (NASDAQ:MARPS)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.77 and traded as low as $4.46. Marine Petroleum Trust shares last traded at $4.69, with a volume of 39,252 shares changing hands.

Analyst Ratings Changes

MARPS has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Marine Petroleum Trust to a “hold” rating in a research note on Saturday, March 21st. Weiss Ratings downgraded shares of Marine Petroleum Trust from a “hold (c+)” rating to a “hold (c-)” rating in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold”.

Marine Petroleum Trust Trading Down 1.3%

The business’s 50-day moving average is $4.99 and its two-hundred day moving average is $4.77. The firm has a market cap of $9.38 million, a P/E ratio of 14.66 and a beta of 0.37.

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

Marine Petroleum Trust Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be given a dividend of $0.0965 per share. This represents a $0.39 dividend on an annualized basis and a dividend yield of 8.2%. The ex-dividend date of this dividend is Friday, May 29th. Marine Petroleum Trust’s dividend payout ratio is currently 121.88%.

Institutional Investors Weigh In On Marine Petroleum Trust

A hedge fund recently bought a new stake in Marine Petroleum Trust stock. Welch Group LLC acquired a new stake in shares of Marine Petroleum Trust (NASDAQ:MARPS) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 15,956 shares of the energy company’s stock, valued at approximately $85,000. Welch Group LLC owned about 0.80% 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.