CVX vs DKL: Which Is the Better Dividend Stock?
As of September 2026, CVX (Chevron Corporation) screens as the stronger dividend stock, winning 6 of 8 head-to-head metrics. DKL offers the higher yield at 7.91%, CVX has the higher dividend-safety score, and DKL trades at the larger discount to fair value (+50%).
| Metric | CVX | DKL |
|---|---|---|
| Forward yield | 3.35% | 7.91% |
| Annual dividend | $7.12 | $4.51 |
| Payout ratio | 67% | 155% |
| Years of growth | 38 yr | 12 yr |
| 5-yr dividend growth | 5.8% | 4.4% |
| 5-yr total return | 111% | 26% |
| Dividend safety score | 95 (A) | 79 (B) |
| Fair value estimate | $119.03 | $83.59 |
| Upside to fair value | -43% | +50% |
| Frequency | quarterly | quarterly |
| Market cap | $419.9B | $3.3B |
| P/E ratio | 20.5 | 19.8 |
Higher yield
DKL
7.91%
Safer dividend
CVX
Grade A
Faster growth
CVX
5.8%
Better value
DKL
+50% upside
CVX vs DKL — FAQ
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