Exxon and Chevron are renowned for rewarding investors with regular dividend increases, but Chevron may be the top choice for income lovers. Both companies are integrated energy companies, with exposure to oil, natural gas, pipelines, and refining. Despite slight variations, both offer strong, diversified options. Exxon is the second-largest publicly traded energy company, followed closely by Chevron. Both companies have globally diversified portfolios and integrated models, allowing them to direct capital investments for high returns.

Return on capital employed historically favors Exxon, but Chevron is a strong competitor. Both companies have strong balance sheets with low debt-to-equity ratios, enabling them to support their businesses and dividends throughout the energy cycle. Chevron’s dividend streak of 38 years is impressive, though Exxon’s 43-year streak is slightly better. Chevron offers a higher dividend yield of 4.5% compared to Exxon’s 3.5%, providing investors with more income.

Investing in either Exxon or Chevron can prove beneficial, as both companies navigate the energy cycle well and reward shareholders with reliable dividends. However, Chevron may offer a higher income opportunity in 2026. The Motley Fool Stock Advisor team did not include Chevron in their top 10 stock picks, which have historically produced significant returns for investors.

As 2025 comes to a close, the key differentiator between Exxon and Chevron is likely to be their dividends. Chevron’s higher dividend yield of 4.5% provides investors with a more substantial income opportunity compared to Exxon’s 3.5% yield. Both companies have proven track records of navigating the energy cycle and rewarding shareholders with dividends.

Read more at Yahoo Finance: Better Buy for 2026: ExxonMobil or Chevron?