CVX vs DKL: Which Is the Better Dividend Stock?
As of July 2026, CVX (Chevron Corporation) screens as the stronger dividend stock, winning 6 of 8 head-to-head metrics. DKL offers the higher yield at 8.18%, CVX has the higher dividend-safety score, and DKL trades at the larger discount to fair value (+142%).
| Metric | CVX | DKL |
|---|---|---|
| Forward yield | 3.80% | 8.18% |
| Annual dividend | $7.12 | $4.49 |
| Payout ratio | 120% | 141% |
| Years of growth | 38 yr | 12 yr |
| 5-yr dividend growth | 5.8% | 4.4% |
| 5-yr total return | 94% | 27% |
| Dividend safety score | 86 (A) | 78 (B) |
| Fair value estimate | $154.80 | $133.06 |
| Upside to fair value | -17% | +142% |
| Frequency | quarterly | quarterly |
| Market cap | $377.8B | $2.9B |
| P/E ratio | 32.7 | 17.3 |
Higher yield
DKL
8.18%
Safer dividend
CVX
Grade A
Faster growth
CVX
5.8%
Better value
DKL
+142% upside
CVX vs DKL — FAQ
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