Marine Petroleum Trust (NASDAQ:MARPS) Sees Significant Decline in Short Interest

Marine Petroleum Trust (NASDAQ:MARPS) was the target of a significant drop in short interest in September. As of September 30th, there was short interest totaling 1,456 shares, a drop of 54.4% from the September 15th total of 3,192 shares. Based on an average daily volume of 4,749 shares, the short-interest ratio is currently 0.3 days. Approximately 0.1% of the shares of the stock are sold short.

Marine Petroleum Trust Stock Performance

MARPS traded up $0.15 during midday trading on Wednesday, hitting $4.50. The stock had a trading volume of 10,035 shares, compared to its average volume of 32,900. Marine Petroleum Trust has a 1 year low of $4.04 and a 1 year high of $6.49. The business has a fifty day moving average of $4.52 and a 200 day moving average of $4.76. The company has a market cap of $9 million, a P/E ratio of 13.24 and a beta of 0.37.

Marine Petroleum Trust (NASDAQ:MARPS) last posted its quarterly earnings results on Friday, September 25th. The energy company reported $0.10 EPS for the quarter. The firm had revenue of $0.26 million for the quarter. Marine Petroleum Trust had a net margin of 67.00% and a return on equity of 69.15%.

Marine Petroleum Trust Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 28th. Investors of record on Monday, August 31st were issued a dividend of $0.0954 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $0.38 annualized dividend and a dividend yield of 8.5%. This is a decrease from Marine Petroleum Trust’s previous quarterly dividend of $0.0965. Marine Petroleum Trust’s payout ratio is 111.76%.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Marine Petroleum Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, September 28th. One equities research analyst has rated the stock with a Hold rating. According to MarketBeat.com, the stock presently has an average rating of “Hold”.

Hedge Funds Weigh In On Marine Petroleum Trust

An institutional investor recently bought a new position in Marine Petroleum Trust stock. Welch Group LLC purchased a new position in Marine Petroleum Trust (NASDAQ:MARPS) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 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 owned by hedge funds and other institutional investors.

Marine Petroleum Trust Company Profile

Marine Petroleum Trust is a grantor trust that owns royalty interests in oil and natural gas properties located in the Gulf of Mexico, primarily offshore Louisiana. The trust does not explore for, develop, or operate oil and gas properties itself. Instead, it receives royalty payments based on production from properties operated by third-party lessees.

The trust’s income is derived from its interests in offshore wells and is generally distributed to its beneficial owners after the payment of trust expenses and other obligations.