CVX vs DVN: Which Is the Better Dividend Stock?
As of Oct 25, 2026, CVX (Chevron Corporation) screens as the stronger dividend stock, winning 5 of 8 head-to-head metrics. CVX offers the higher yield at 3.05%, CVX has the higher dividend-safety score, and DVN looks like the better value (its fair-value estimate is 10% below its share price).
Key facts: CVX vs DVN
Data as of · Source: SmarterDividends data
- As of Oct 25, 2026, Chevron Corporation (CVX) has the higher forward dividend yield at 3.05%, versus 2.49% for Devon Energy Corporation (DVN).
- As of Oct 25, 2026, SmarterDividends grades CVX's dividend safety A (95/100) and DVN's B (66/100).
- By SmarterDividends' count as of Oct 25, 2026, CVX has raised its dividend for 38 consecutive years and DVN for 0.
- As of Oct 25, 2026, CVX pays out 67% of its earnings as dividends and DVN pays out 23%.
- As of Oct 25, 2026, CVX's fair-value estimate is 52% below its share price and DVN's fair-value estimate is 10% below its share price, so DVN looks like the better value of the two on SmarterDividends' blended model.
Cite this page
SmarterDividends, "CVX vs DVN: Dividend Yield, Safety & Value Compared," updated Oct 25, 2026, https://smarterdividends.com/compare/cvx-vs-dvn
| Metric | CVX | DVN |
|---|---|---|
| Forward yield | 3.05% | 2.49% |
| Annual dividend | $7.12 | $1.28 |
| Payout ratio | 67% | 23% |
| Years of growth | 38 yr | 0 yr |
| 5-yr dividend growth | 5.8% | 18.0% |
| 5-yr total return | 107% | 22% |
| Dividend safety score | 95 (A) | 66 (B) |
| Fair value estimate | $111.37 | $46.29 |
| Upside to fair value | -52% | -10% |
| Frequency | quarterly | quarterly |
| Market cap | $457.5B | $56.5B |
| P/E ratio | 22.4 | 11.2 |
Higher yield
CVX
3.05%
Safer dividend
CVX
Grade A
Faster growth
DVN
18.0%
Better value
DVN
-10% upside
CVX vs DVN — FAQ
Is CVX or DVN a better dividend stock?
On the data, CVX wins more head-to-head categories (5 vs 3). CVX offers the higher yield (3.05%), 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 DVN?
CVX has the higher forward dividend yield at 3.05%, versus 2.49% for DVN.
Is CVX or DVN safer?
CVX has the higher dividend-safety score (95/100 vs 66/100), reflecting stronger payout coverage and dividend-growth history.
Is CVX or DVN better value right now?
As of Oct 25, 2026, DVN looks like the better value: its fair-value estimate is 10% below its share price (fairly valued). 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.