Combine posts and postmeta

$args = array(
    'post_type'  => 'my_custom_post_type',
    'meta_query' => array(
        array(
            'key'     => 'name_of_field_with_featured_as_value',
            'value'   => 'featured',
            'compare' => '=',
        ),
    ),
);
$query = new WP_Query($args);
if($query->have_posts()) :
    //usual loop code but with $query as above, note that post related functions are called as usual, e.g. simply the_title(), not $query->the_title()
endif;