Here is a look at dividend durability for a few companies despite WTI crude swinging about $18 recently. Phillips 66 (PSX): Up 44% with a 2.88% yield. They raised the Q1 2026 dividend to $1.27. Refining margins were strong last year. Altria (MO): Up 28% yielding 6.11%. Often used as a hedge against energy prices. Cigarette volumes are down, but nicotine pouches are growing fast. Chevron (CVX): Up 31% with a 3.68% yield. Record operating cash flow of $33.9B in 2025 despite a net income drop. Production also hit record highs. ExxonMobil (XOM): Up 47% yielding 2.67%. Generated nearly $52B in operating cash flow, which covers dividends and buybacks. The main takeaway here is that strong operating cash flows are insulating these payouts from spot price volatility.