Marine Petroleum Trust (NASDAQ:MARPS) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Marine Petroleum Trust (NASDAQ:MARPS) in a report released on Saturday morning. The brokerage issued a hold rating on the energy company’s stock.

Marine Petroleum Trust Price Performance

Marine Petroleum Trust stock opened at $5.15 on Friday. The firm’s 50 day simple moving average is $5.36 and its 200-day simple moving average is $6.39. Marine Petroleum Trust has a fifty-two week low of $4.35 and a fifty-two week high of $10.95.

Marine Petroleum Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, August 31st will be issued a dividend of $0.122 per share. This is a boost from Marine Petroleum Trust’s previous quarterly dividend of $0.11. This represents a $0.49 annualized dividend and a dividend yield of 9.48%. The ex-dividend date is Wednesday, August 30th.

Institutional Trading of 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 shares of Marine Petroleum Trust (NASDAQ:MARPS) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 36,069 shares of the energy company’s stock, valued at approximately $289,000. BNP Paribas Arbitrage SA owned 1.80% of Marine Petroleum Trust at the end of the most recent quarter. Hedge funds and other institutional investors own 3.65% of the company’s stock.

Marine Petroleum Trust Company Profile

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. The company was incorporated in 1956 and is based in Dallas, Texas.