Marine Petroleum Trust (NASDAQ: MARPS) was among Tuesday’s market winners, with the stock gaining 27.91%. The stock has been rising steadily in the last week as oil and gas prices continue to rise. With the rising prices, stocks in the energy sector have been trending, with both small and large-cap companies in oil production and mining witnessing considerable gains as market supply uncertainty pushes prices higher.
The company runs as a royalty trust organized to offer efficient and practical ways for liquidation and administration rights to payment from various natural gas and oil leases in the Mexican Gulf. The initial agreement was as per the licenses agreement and amendment with Gulf Oil Corporation. Its royalty revenues are attributed to how much natural gas and oil prices, demand fluctuation, and production capacity. Considering oil prices have been on the rise, it makes sense that MARPS is in the green.
Maxeon Solar Technologies Ltd. (NASDAQ: MAXN) rose 23.59% on Tuesday as solar and other sustainable energy stocks continue to gain, driven by rising energy prices following the oil imports ban from Russia as a response to the invasion of Ukraine. Raymond James analyst Pavel Molchanov stated that renewables are likely to get more attention than before. He explained that the conflict had brought the energy security aspects to the forefront.
Recently the company announced a supply agreement with SunPower Corporation overseeing the supply of Interdigitated Back Contact solar panels to SunPower from Maxeon for use in residential channels in Canada and the US. The new supply agreement replaces a prior agreement that had been in place since August 2020, when Maxeon spun out of SunPower.
Aemetis Inc. (NASDAQ: AMTX) shares were up 20.74% after the company announced that it would hold a conference call to review the announcement of its Q4 and FY 2021 earnings report. The company plans to review the report on Thursday, March 10, 2022, at 11 AM PST. The company is focusing on renewable energy with below zero carbon concentration transportation fuels. Its carbon zero products can be used in zero-carbon fuels used in ship fleets, trucks, and airplanes.
The company has closed two new low-interest rate credit facilities with total availability of $100 million, comprising $50 million for projects producing low carbon intensity sustainable products and around $50 million in working capital. In relation to the closing of the credit facilities, the company has repaid a higher interest rate debt of $16 million, building in the over $60 million of higher interest rate debt that was repaid in 2021.