Barclays Maintains an 'Overweight' on Marathon Petroleum (MPC); 3Q11 Preview: Expect $2.66

Barclays maintains an 'Overweight' on Marathon Petroleum (NYSE: MPC) price target of $53.00.

Barclays analyst says, "We fine tune our 4Q11, 2011, and 2012 estimates to reflect mark-to-market on our commodity price deck...We expect R&M to report earnings of $952 million, compared to $277 million in 3Q10 and $802 million in 2Q11. We forecast total throughput at 1,425 mb/d (000's b/d), up 4% q-o-q, but down 1% y-o-y. We expect realized refining margins at $13.5/bl, compared to $4.3/bl in 3Q10 and $12.3/bl in 2Q11...We expect Speedway to report earnings of $83 million, compared to $105 million in 3Q10 and $80 million in 2Q11. We forecast realized retail margins at $0.15/gallon, down 3% q-o-q but up 6% y-o-y. We expect retail gasoline and diesel sales at 740 million gallons, up 2% q-o-q, but down 15% y-o-y...We expect Pipeline Transportation to report earnings of $58 million, compared to $39 million in 3Q10 and $54 million in 2Q11. We expect pipeline barrels handled at 2,294 mb/d, up 2% y-o-y and 3% q-o-q."

For more ratings news on Marathon Petroleum click here and for the rating history of Marathon Petroleum click here.

Shares of Marathon Petroleum closed at $37.32 yesterday.

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