The Bigger Dividend Stock Amid The Oil Rush

Oil and energy company ExxonMobil (NYSE:XOM) and Chevron (NYSE:CVX) closed out 2025 with results that reveal two very different oil giants navigating the same crude price headwind. Both raised dividends 4%, both beat Q4 EPS estimates, and both are pressing hard on production growth. The structural differences between the two companies, however, are significant. So, which is a better dividend stock?

• ExxonMobil (XOM) posted Q4 EPS of $1.71 (beating estimates by 3%) with record 4.7M BOED production and $26.13B full-year free cash flow.

• Chevron (CVX) delivered Q4 EPS of $1.52 (beating estimates by 5.6%) and record 3,723 MBOED production with $16.60B FCF, as both raised dividends 4% but ExxonMobil’s 3.0x dividend coverage ratio significantly outpaces Chevron’s 1.30x ratio.

• ExxonMobil’s stronger cash generation and longer 43-year dividend growth streak provide more financial flexibility to sustain payouts in a soft crude environment, while Chevron’s higher 3.46% yield relies on ambitious cost cuts and Hess synergies that require crude prices to remain elevated.

• Read: I Review Investing Platforms For A Living, And SoFi Crypto Finally Changed My Mind

ExxonMobil posted Q4 EPS of $1.71, beating the $1.66 estimate, while full-year revenue reached $332.24B. The real headline was production. ExxonMobil hit 4.7 million oil-equivalent barrels per day in Q4, its highest output in over 40 years, with the Permian Basin alone delivering a record 1.8 million BOED.

Read: I Review Investing Platforms for a Living, And SoFi Crypto Finally Changed My Mind

I’ve spent years reviewing investing platforms across stocks, options, ETFs, and now crypto. Most crypto platforms fall into one of two categories: fast-moving exchanges with regulatory uncertainty, or traditional financial firms that treat crypto like an afterthought. SoFi Crypto is one of the very few platforms that breaks that mold.

Chevron’s story runs through its Hess acquisition. Full-year worldwide production hit a record 3,723 MBOED, up 12% year over year, with Hess contributing 261 MBOED in 2025. The Permian crossed its own milestone, reaching 1 million BOE per day, and Kazakhstan’s TCO project ramped to approximately 1 million BOE per day as well.

ExxonMobil’s structural cost savings program has accumulated $15.1B since 2019, with a target of $20B by 2030. Its Energy Products segment delivered a sharp sequential recovery, with quarterly earnings rose over 80% to $3.39B on stronger diesel and gasoline crack spreads. The Chemical Products segment posted a $281M loss due to weak industry margins and remains a drag worth watching.