CVX vs MPLX: Which Is the Better Dividend Stock?
As of Oct 27, 2026, CVX (Chevron Corporation) screens as the stronger dividend stock, winning 5 of 8 head-to-head metrics. MPLX offers the higher yield at 7.34%, CVX has the higher dividend-safety score, and MPLX looks like the better value (its fair-value estimate is 64% above its share price).
Key facts: CVX vs MPLX
Data as of · Source: SmarterDividends data
- As of Oct 27, 2026, MPLX LP (MPLX) has the higher forward dividend yield at 7.34%, versus 3.07% for Chevron Corporation (CVX).
- As of Oct 27, 2026, SmarterDividends grades CVX's dividend safety A (95/100) and MPLX's A (80/100).
- By SmarterDividends' count as of Oct 27, 2026, CVX has raised its dividend for 38 consecutive years and MPLX for 4.
- As of Oct 27, 2026, CVX pays out 67% of its earnings as dividends and MPLX pays out 90%.
- As of Oct 27, 2026, CVX's fair-value estimate is 52% below its share price and MPLX's fair-value estimate is 64% above its share price, so MPLX looks like the better value of the two on SmarterDividends' blended model.
Cite this page
SmarterDividends, "CVX vs MPLX: Dividend Yield, Safety & Value Compared," updated Oct 27, 2026, https://smarterdividends.com/compare/cvx-vs-mplx
| Metric | CVX | MPLX |
|---|---|---|
| Forward yield | 3.07% | 7.34% |
| Annual dividend | $7.12 | $4.31 |
| Payout ratio | 67% | 90% |
| Years of growth | 38 yr | 4 yr |
| 5-yr dividend growth | 5.8% | 7.5% |
| 5-yr total return | 107% | 102% |
| Dividend safety score | 95 (A) | 80 (A) |
| Fair value estimate | $111.37 | $96.05 |
| Upside to fair value | -52% | +64% |
| Frequency | quarterly | quarterly |
| Market cap | $455.1B | $59.5B |
| P/E ratio | 22.3 | 12.6 |
Higher yield
MPLX
7.34%
Safer dividend
CVX
Grade A
Faster growth
MPLX
7.5%
Better value
MPLX
+64% upside
CVX vs MPLX — FAQ
Is CVX or MPLX a better dividend stock?
On the data, CVX wins more head-to-head categories (5 vs 3). MPLX offers the higher yield (7.34%), 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 MPLX?
MPLX has the higher forward dividend yield at 7.34%, versus 3.07% for CVX.
Is CVX or MPLX safer?
CVX has the higher dividend-safety score (95/100 vs 80/100), reflecting stronger payout coverage and dividend-growth history.
Is CVX or MPLX better value right now?
As of Oct 27, 2026, MPLX looks like the better value: its fair-value estimate is 64% 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.