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

Marine Petroleum Trust (NASDAQ:MARPS) was the target of a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 34,148 shares, a growth of 274.1% from the February 26th total of 9,128 shares. Based on an average daily volume of 239,449 shares, the days-to-cover ratio is currently 0.1 days. Approximately 1.7% of the company’s shares are short sold.

Hedge Funds Weigh In On Marine Petroleum Trust

An institutional investor recently bought a new position in Marine Petroleum Trust stock. Azzad Asset Management Inc. ADV acquired a new stake in Marine Petroleum Trust (NASDAQ:MARPS) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 24,600 shares of the energy company’s stock, valued at approximately $102,000. Azzad Asset Management Inc. ADV owned approximately 1.23% of Marine Petroleum Trust at the end of the most recent reporting period. 1.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MARPS has been the topic of several recent analyst reports. Weiss Ratings upgraded Marine Petroleum Trust from a “sell (d+)” rating to a “hold (c)” rating in a research report on Tuesday, February 17th. Wall Street Zen upgraded Marine Petroleum Trust to a “hold” rating in a report on Saturday, March 21st. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Marine Petroleum Trust Stock Up 11.7%

NASDAQ:MARPS opened at $5.72 on Friday. The company has a market cap of $11.44 million, a P/E ratio of 15.46 and a beta of 0.38. The firm’s 50 day moving average is $4.85 and its two-hundred day moving average is $4.61. Marine Petroleum Trust has a fifty-two week low of $3.34 and a fifty-two week high of $7.90.

Marine Petroleum Trust (NASDAQ:MARPS) last announced its quarterly earnings data on Thursday, February 12th. The energy company reported $0.10 earnings per share (EPS) for the quarter. The company had revenue of $0.27 million during the quarter. Marine Petroleum Trust had a net margin of 68.98% and a return on equity of 77.05%.

Marine Petroleum Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Friday, February 27th will be given a dividend of $0.1016 per share. This represents a $0.41 dividend on an annualized basis and a yield of 7.1%. This is a boost from Marine Petroleum Trust’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Friday, February 27th. Marine Petroleum Trust’s dividend payout ratio (DPR) is presently 110.81%.

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.