Marine Petroleum Trust (NASDAQ:MARPS) Short Interest Down 17.1% in October

Marine Petroleum Trust (NASDAQ:MARPS) was the target of a large drop in short interest in October. As of October 31st, there was short interest totalling 2,900 shares, a drop of 17.1% from the October 15th total of 3,500 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily volume of 17,700 shares, the days-to-cover ratio is currently 0.2 days.

Marine Petroleum Trust Price Performance

Shares of MARPS traded up $0.10 during mid-day trading on Friday, hitting $3.95. 3,117 shares of the company’s stock were exchanged, compared to its average volume of 13,430. Marine Petroleum Trust has a 52 week low of $3.77 and a 52 week high of $6.50. The company has a market cap of $7.82 million, a PE ratio of 10.68 and a beta of 0.24. The company has a 50-day simple moving average of $4.06 and a 200 day simple moving average of $4.05.

Marine Petroleum Trust (NASDAQ:MARPS) last issued its quarterly earnings results on Monday, September 30th. The energy company reported $0.09 EPS for the quarter. The firm had revenue of $0.23 million during the quarter. Marine Petroleum Trust had a return on equity of 74.22% and a net margin of 68.94%.

Marine Petroleum Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, August 30th were issued a $0.095 dividend. This is an increase from Marine Petroleum Trust’s previous quarterly dividend of $0.06. This represents a $0.38 annualized dividend and a dividend yield of 9.62%. The ex-dividend date of this dividend was Friday, August 30th. Marine Petroleum Trust’s payout ratio is currently 102.70%.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Marine Petroleum Trust in a research note on Wednesday. They set a “hold” rating for the company.

About Marine Petroleum Trust

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. Marine Petroleum Trust was founded in 1956 and is based in Dallas, Texas.