Marathon Petroleum sees Q1 total throughput 1,750 MMBD Sees total throughput in Q1 to be 1,125 MMBD in Gulf Coast, with 3% of WTI-priced crude, and 650 MMBD from Midwest, with 43% of WTI-priced crude. Sees Q1 total direct operating costs $9.80 per barrel. Q1 outlook information in slides for Q4 earnings conference call.
Marathon Petroleum upgraded to Overweight from Neutral at JPMorgan JPMorgan upgraded Marathon Petroleum to Overweight with a $61 price target. The firm believes Marathon's valuation is too attractive to ignore and the weaker Q2 capture rate was transitory and risks are reflected in shares.