CVX vs MPLX: Which Is the Better Dividend Stock?
As of July 2026, MPLX (MPLX LP) screens as the stronger dividend stock, winning 5 of 8 head-to-head metrics. MPLX offers the higher yield at 7.55%, CVX has the higher dividend-safety score, and MPLX trades at the larger discount to fair value (+82%).
| Metric | CVX | MPLX |
|---|---|---|
| Forward yield | 3.80% | 7.55% |
| Annual dividend | $7.12 | $4.31 |
| Payout ratio | 120% | 88% |
| Years of growth | 38 yr | 4 yr |
| 5-yr dividend growth | 5.8% | 7.5% |
| 5-yr total return | 94% | 103% |
| Dividend safety score | 86 (A) | 79 (B) |
| Fair value estimate | $154.80 | $103.68 |
| Upside to fair value | -17% | +82% |
| Frequency | quarterly | quarterly |
| Market cap | $377.8B | $58.0B |
| P/E ratio | 32.7 | 12.3 |
Higher yield
MPLX
7.55%
Safer dividend
CVX
Grade A
Faster growth
MPLX
7.5%
Better value
MPLX
+82% upside
CVX vs MPLX — FAQ
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