CVX vs PAA: Which Is the Better Dividend Stock?
As of Nov 6, 2026, CVX and PAA are closely matched. PAA offers the higher yield at 6.81%, CVX has the higher dividend-safety score, and PAA looks like the better value (its fair-value estimate is 146% above its share price).
Key facts: CVX vs PAA
Data as of · Source: SmarterDividends data
- As of Nov 6, 2026, Plains All American Pipeline, L.P. (PAA) has the higher forward dividend yield at 6.81%, versus 3.34% for Chevron Corporation (CVX).
- As of Nov 6, 2026, SmarterDividends grades CVX's dividend safety A (96/100) and PAA's C (60/100).
- By SmarterDividends' count as of Nov 6, 2026, CVX has raised its dividend for 38 consecutive years and PAA for 4.
- As of Nov 6, 2026, CVX pays out 67% of its earnings as dividends and PAA pays out 138%.
- As of Nov 6, 2026, CVX's fair-value estimate is 53% below its share price and PAA's fair-value estimate is 146% above its share price, so PAA looks like the better value of the two on SmarterDividends' blended model.
Cite this page
SmarterDividends, "CVX vs PAA: Dividend Yield, Safety & Value Compared," updated Nov 6, 2026, https://smarterdividends.com/compare/cvx-vs-paa
| Metric | CVX | PAA |
|---|---|---|
| Forward yield | 3.34% | 6.81% |
| Annual dividend | $7.12 | $1.67 |
| Payout ratio | 67% | 138% |
| Years of growth | 38 yr | 4 yr |
| 5-yr dividend growth | 5.8% | 16.1% |
| 5-yr total return | 109% | 185% |
| Dividend safety score | 96 (A) | 60 (C) |
| Fair value estimate | $99.92 | $60.36 |
| Upside to fair value | -53% | +146% |
| Frequency | quarterly | quarterly |
| Market cap | $415.4B | $17.3B |
| P/E ratio | 15.6 | 21.1 |
Higher yield
PAA
6.81%
Safer dividend
CVX
Grade A
Faster growth
PAA
16.1%
Better value
PAA
+146% upside
CVX vs PAA — FAQ
Is CVX or PAA a better dividend stock?
CVX and PAA are closely matched. PAA has the higher yield; CVX scores better on safety.
Which has a higher dividend yield, CVX or PAA?
PAA has the higher forward dividend yield at 6.81%, versus 3.34% for CVX.
Is CVX or PAA safer?
CVX has the higher dividend-safety score (96/100 vs 60/100), reflecting stronger payout coverage and dividend-growth history.
Is CVX or PAA better value right now?
As of Nov 6, 2026, PAA looks like the better value: its fair-value estimate is 146% above its share price (undervalued). For CVX, its fair-value estimate is 53% below its share price.
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See more dividend stock comparisons · data refreshes daily · for informational purposes only, not investment advice.