XOM vs CVX: Which Is the Better Dividend Stock?
As of July 2026, XOM and CVX are closely matched. CVX offers the higher yield at 3.80%, XOM has the higher dividend-safety score, and XOM trades at the larger discount to fair value (-11%).
| Metric | XOM | CVX |
|---|---|---|
| Forward yield | 2.80% | 3.80% |
| Annual dividend | $4.12 | $7.12 |
| Payout ratio | 68% | 120% |
| Years of growth | 24 yr | 38 yr |
| 5-yr dividend growth | 2.8% | 5.8% |
| 5-yr total return | 170% | 94% |
| Dividend safety score | 87 (A) | 86 (A) |
| Fair value estimate | $131.52 | $154.80 |
| Upside to fair value | -11% | -17% |
| Frequency | quarterly | quarterly |
| Market cap | $614.9B | $377.8B |
| P/E ratio | 24.8 | 32.7 |
Higher yield
CVX
3.80%
Safer dividend
XOM
Grade A
Faster growth
CVX
5.8%
Better value
XOM
-11% upside
XOM vs CVX — FAQ
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