CVX vs DKL: Which Is the Better Dividend Stock?
As of Oct 27, 2026, CVX (Chevron Corporation) screens as the stronger dividend stock, winning 6 of 8 head-to-head metrics. DKL offers the higher yield at 7.94%, CVX has the higher dividend-safety score, and DKL looks like the better value (its fair-value estimate is 83% above its share price).
Key facts: CVX vs DKL
Data as of · Source: SmarterDividends data
- As of Oct 27, 2026, Delek Logistics Partners, LP (DKL) has the higher forward dividend yield at 7.94%, versus 3.07% for Chevron Corporation (CVX).
- As of Oct 27, 2026, SmarterDividends grades CVX's dividend safety A (95/100) and DKL's B (79/100).
- By SmarterDividends' count as of Oct 27, 2026, CVX has raised its dividend for 38 consecutive years and DKL for 12.
- As of Oct 27, 2026, CVX pays out 67% of its earnings as dividends and DKL pays out 155%.
- As of Oct 27, 2026, CVX's fair-value estimate is 52% below its share price and DKL's fair-value estimate is 83% above its share price, so DKL looks like the better value of the two on SmarterDividends' blended model.
Cite this page
SmarterDividends, "CVX vs DKL: Dividend Yield, Safety & Value Compared," updated Oct 27, 2026, https://smarterdividends.com/compare/cvx-vs-dkl
| Metric | CVX | DKL |
|---|---|---|
| Forward yield | 3.07% | 7.94% |
| Annual dividend | $7.12 | $4.56 |
| Payout ratio | 67% | 155% |
| Years of growth | 38 yr | 12 yr |
| 5-yr dividend growth | 5.8% | 4.4% |
| 5-yr total return | 107% | 35% |
| Dividend safety score | 95 (A) | 79 (B) |
| Fair value estimate | $111.37 | $104.91 |
| Upside to fair value | -52% | +83% |
| Frequency | quarterly | quarterly |
| Market cap | $455.1B | $3.3B |
| P/E ratio | 22.3 | 19.9 |
Higher yield
DKL
7.94%
Safer dividend
CVX
Grade A
Faster growth
CVX
5.8%
Better value
DKL
+83% upside
CVX vs DKL — FAQ
Is CVX or DKL a better dividend stock?
On the data, CVX wins more head-to-head categories (6 vs 2). DKL offers the higher yield (7.94%), while CVX has the stronger dividend-safety score. The right pick depends on whether you prioritise income, safety or value.
Which has a higher dividend yield, CVX or DKL?
DKL has the higher forward dividend yield at 7.94%, versus 3.07% for CVX.
Is CVX or DKL safer?
CVX has the higher dividend-safety score (95/100 vs 79/100), reflecting stronger payout coverage and dividend-growth history.
Is CVX or DKL better value right now?
As of Oct 27, 2026, DKL looks like the better value: its fair-value estimate is 83% above its share price (undervalued). For CVX, its fair-value estimate is 52% below its share price.
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See more dividend stock comparisons · data refreshes daily · for informational purposes only, not investment advice.