Exxon Mobil and Chevron Both Hike Dividends: Which Is the Best for Your Money?

Exxon’s dividend hike was by 9.5 percent, up to $0.69 from $0.63 per share per quarter. After closing up almost 1% at $102.41, the prior yield of 2.46% will jump up to 2.69%. Exxon Mobil’s 52-week range is $84.79 to $102.57.

Chevron’s dividend hike was by 7 percent, up to $1.07 per share from $1.00 per share. After closing down 0.36% at $125.52, the current yield of 3.19 percent will rise up to 3.41 percent. Chevron’s 52-week range is $109.27 to $127.83.

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Exxon showed that it has now increased its annual dividend payment to shareholders for 32 consecutive years. Chevron was already paying a much higher yield than Exxon, and the new yield comparison is still way ahead at 3.4 percent for Chevron versus almost 2.7 percent for Exxon.

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Barron’s recently gave a projection that technology, new drilling techniques, and other factors would drive oil down to $75 per barrel. Our take is that somewhere around $90 or $95 is likely the new normal. The reality is that the easy oil in the world has already been drilled, and that which hasn’t is either on protected lands or is located in places where geopolitical risk creates a high degree of long-term risk and uncertainty.