Short Interest in Marine Petroleum Trust (NASDAQ:MARPS) Declines By 43.2%

Marine Petroleum Trust (NASDAQ:MARPS) was the target of a large drop in short interest during the month of May. As of May 29th, there was short interest totaling 5,631 shares, a drop of 43.2% from the May 14th total of 9,917 shares. Based on an average trading volume of 10,989 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.3% of the company’s shares are sold short.

Analysts Set New Price Targets

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

Marine Petroleum Trust Trading Down 1.1%

Shares of NASDAQ:MARPS opened at $4.64 on Friday. The company has a market cap of $9.28 million, a price-to-earnings ratio of 14.50 and a beta of 0.37. The company has a 50-day moving average price of $4.98 and a 200-day moving average price of $4.77. Marine Petroleum Trust has a 12 month low of $4.05 and a 12 month high of $7.90.

Marine Petroleum Trust (NASDAQ:MARPS) last issued its quarterly earnings data on Thursday, May 14th. The energy company reported $0.07 EPS for the quarter. The firm 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be paid a dividend of $0.0965 per share. This represents a $0.39 annualized dividend and a dividend yield of 8.3%. The ex-dividend date of this dividend is Friday, May 29th. Marine Petroleum Trust’s dividend payout ratio is 121.88%.

Hedge Funds 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 filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent reporting period. Institutional investors own 1.76% of the company’s stock.

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.