Marine petroleum Trust (MARPS) is the provider of an efficient and practical means for the liquidation and administration of payments rights from lease in the Mexican Gulf. Up to 60% of the company’s revenues are attributed to oil and up to 40% are attributed to natural gas. The company’s revenues are impacted by several factors including the wells’ production capacities, and by alterations in oil and gas market price.
The price of MARPS stock on March 7, 2022, regular trading was $12.1 with a phenomenal gain of 69.8%. The stock further rocketed by 21.22%, at the last check in the premarket on March 8, 2022.
MARPS: Events and Happenings
On February 17, 2022, MARPS reported a quarterly cash distribution to its shareholders of the units of $0.107485 per unit beneficial interest, payable by March 28, 2022. The per-unit distribution in the first quarter is higher than the per-unit distributed last quarter. Corresponding to the prior quarter, the oil production volume increased while the natural gas volume had been decreased. The price for both oil and natural gas improved in Q1 2022 compared to the previous quarter.
MARPS: Key Financials
On February 17, 2022, MARPS released its first-quarter 2022 unaudited financial report for the three months ended September 30, 2021. Some of the key updates are discussed here.
Revenue
Total income in the first fiscal quarter of 2022 was $0.22 million compared to $0.05 million in the same quarter of 2021. It recorded a gain of $0.17 million in its total income year-over-year.
EPS
Distributable income in the first quarter of 2022 was $0.20 million or $0.10 per unit corresponding to $0.03 million or $0.02 in the same period in 2021. The company observed a significant improvement in its earnings per unit over the year by $0.08.
Conclusion
MARPS stock is 181% up year-to-date as the oil prices are continuously on the rise after the Russia-Ukraine Conflict. The company’s stock recently rallied in the regular trading as well as premarket as the news is circulating regarding the ban of Russian oil by the US. As a result of the current scenario, the oil companies’ stocks are turning towards volatility.