CVX vs MPLX: Which Is the Better Dividend Stock?
As of September 2026, CVX and MPLX are closely matched. MPLX offers the higher yield at 7.20%, CVX has the higher dividend-safety score, and MPLX trades at the larger discount to fair value (+73%).
| Metric | CVX | MPLX |
|---|---|---|
| Forward yield | 3.39% | 7.20% |
| 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 | 106% | 110% |
| Dividend safety score | 95 (A) | 80 (A) |
| Fair value estimate | $119.03 | $102.95 |
| Upside to fair value | -43% | +73% |
| Frequency | quarterly | quarterly |
| Market cap | $419.4B | $61.1B |
| P/E ratio | 20.6 | 12.9 |
Higher yield
MPLX
7.20%
Safer dividend
CVX
Grade A
Faster growth
MPLX
7.5%
Better value
MPLX
+73% upside
CVX vs MPLX — FAQ
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