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

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

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) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 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 currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Marine Petroleum Trust Stock Down 1.1%

NASDAQ:MARPS opened at $4.64 on Friday. The company’s 50 day moving average price is $4.98 and its 200-day moving average price is $4.77. Marine Petroleum Trust has a 52 week low of $4.05 and a 52 week high of $7.90. The stock has a market cap of $9.28 million, a price-to-earnings ratio of 14.50 and a beta of 0.37.

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

Marine Petroleum Trust Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be issued a dividend of $0.0965 per share. The ex-dividend date is Friday, May 29th. This represents a $0.39 dividend on an annualized basis and a dividend yield of 8.3%. Marine Petroleum Trust’s dividend payout ratio is presently 121.88%.

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.