CVX vs PAA: Which Is the Better Dividend Stock?
As of September 2026, CVX and PAA are closely matched. PAA offers the higher yield at 6.53%, CVX has the higher dividend-safety score, and PAA trades at the larger discount to fair value (+91%).
| Metric | CVX | PAA |
|---|---|---|
| Forward yield | 3.50% | 6.53% |
| Annual dividend | $7.12 | $1.63 |
| Payout ratio | 67% | 136% |
| Years of growth | 38 yr | 4 yr |
| 5-yr dividend growth | 5.8% | 16.1% |
| 5-yr total return | 83% | 151% |
| Dividend safety score | 95 (A) | 60 (C) |
| Fair value estimate | $116.68 | $48.47 |
| Upside to fair value | -44% | +91% |
| Frequency | quarterly | quarterly |
| Market cap | $397.0B | $17.3B |
| P/E ratio | 19.6 | 21.0 |
Higher yield
PAA
6.53%
Safer dividend
CVX
Grade A
Faster growth
PAA
16.1%
Better value
PAA
+91% upside
CVX vs PAA — FAQ
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