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 3.66%, XOM has the higher dividend-safety score, and XOM trades at the larger discount to fair value (-18%).
| Metric | XOM | CVX |
|---|---|---|
| Forward yield | 2.63% | 3.66% |
| 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 | 188% | 101% |
| Dividend safety score | 87 (A) | 86 (A) |
| Fair value estimate | $128.31 | $135.91 |
| Upside to fair value | -18% | -30% |
| Frequency | quarterly | quarterly |
| Market cap | $650.5B | $387.9B |
| P/E ratio | 26.5 | 33.9 |
Higher yield
CVX
3.66%
Safer dividend
XOM
Grade A
Faster growth
CVX
5.8%
Better value
XOM
-18% upside
XOM vs CVX — FAQ
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