CVX vs PAA: Which Is the Better Dividend Stock?
As of July 2026, CVX and PAA are closely matched. PAA offers the higher yield at 6.84%, CVX has the higher dividend-safety score, and PAA trades at the larger discount to fair value (+151%).
| Metric | CVX | PAA |
|---|---|---|
| Forward yield | 3.80% | 6.84% |
| Annual dividend | $7.12 | $1.63 |
| Payout ratio | 120% | 140% |
| Years of growth | 38 yr | 4 yr |
| 5-yr dividend growth | 5.8% | 16.1% |
| 5-yr total return | 94% | 156% |
| Dividend safety score | 86 (A) | 55 (C) |
| Fair value estimate | $154.80 | $59.95 |
| Upside to fair value | -17% | +151% |
| Frequency | quarterly | quarterly |
| Market cap | $377.8B | $17.2B |
| P/E ratio | 32.7 | 21.5 |
Higher yield
PAA
6.84%
Safer dividend
CVX
Grade A
Faster growth
PAA
16.1%
Better value
PAA
+151% upside
CVX vs PAA — FAQ
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