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Marathon Petroleum Going Ex-Dividend: Buy for Its Payout, Not for a Long-Term Investment

NEW YORK (TheStreet) -- Shares of Marathon Petroleum (MPC - Get Report) have jumped this year to $57.80 -- compared with $45.13 at the end of 2014 and $44.46 a year ago -- even amid volatile oil prices. Marathon, headquartered in Findlay, Ohio, has dominated the Energy Select Sector SPDR Fund (XLE), which its down more than 12% this year.

With Marathon's stock scheduled to go ex-dividend Monday, August 17, it's worth asking how much potential the stock has. Right now it's about $5 from its 52-week high. To qualify for a dividend check, investors must have owned the stock on or before Friday, August 14. That's the last day that Marathon will...