Barclays Maintains an 'Overweight' on Marathon Petroleum (MPC); Meeting Update

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

Barclays analyst says, "Margin enhancement projects: Management discussed opportunities to replace LLS linked feedstock with domestic oil production at both the Texas City and Canton refineries...Capital expenditure outlook: The Detroit Heavy Oil Upgrade project remains on budget and on track for completion in the second half of 2012...Free cash flow priorities: Management expressed a preference for regular dividends over special dividends, and indicated that share buybacks are unlikely for at least the next two years."

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 $31.48 yesterday.

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