CVX vs EOG: Dividend Comparison
Dividend data as of
Chevron Corp (CVX) and Eog Resources Inc (EOG) are both in the Energy sector, making them natural rivals for dividend investors. Both stocks offer similar yields — CVX at 3.75% and EOG at 3.50%. For dividend growth, CVX leads with a 5-year CAGR of 6.5% versus EOG's -1.8%. Both stocks carry a "Safe" dividend safety rating. CVX is a Dividend Aristocrat with 38 years of consecutive increases.
Verdict
Yield Analysis
CVX yields 0.25% more than EOG. In dollar terms, CVX pays $6.84/share vs EOG's $3.94/share annually.
Dividend Growth
CVX: Dividend growth has been steady, with a 3-year CAGR of 6.4% and a 5-year CAGR of 6.5% (10-year: 5.3%).
EOG: Dividend growth is slowing — the 3-year CAGR of -10.9% trails the 5-year rate of -1.8% and the 10-year rate of 25.7%.
Dividend Safety
CVX: The payout ratio of 1% is well within sustainable levels, leaving room for future increases. Earnings cover the dividend 1.0x.
EOG: The payout ratio of 38% is well within sustainable levels, leaving room for future increases. Earnings cover the dividend 2.6x.
Estimated Annual Dividend Income
Based on current dividend yields. Actual income may vary.
What does $10,000 buy in CVX vs EOG today?
At $184.05 per share, $10,000 buys about 54.3 shares of Chevron Corp (CVX). Each share pays $6.84 per year in dividends, so the position starts out generating roughly $372 per year — about $31 a month.
At $120.62 per share, $10,000 buys about 82.9 shares of Eog Resources Inc (EOG). Each share pays $3.94 per year in dividends, so the position starts out generating roughly $327 per year — about $27 a month.
CVX is the larger income stream from day one: $45 per year more on the same $10,000 invested.
What could $10,000 of CVX or EOG income look like in 10 years?
Chevron Corp (CVX) has raised its dividend about 6.5% a year over the past five years. If that pace held, the $375 per year that $10,000 generates today at the current 3.75% yield would reach $706 per year by 2036 — a 7.1% yield on the original cost.
Eog Resources Inc (EOG)'s dividend has shrunk about 1.8% a year over the past five years. If that trend continued, today's $350 per year on $10,000 (at the current 3.50% yield) would fall to $292 per year by 2036.
On those trailing rates, CVX pays more in 2036: $706 versus $292 per year. The projection assumes each five-year growth rate persists and no dividends are reinvested — real payouts will differ.
When would EOG's dividend growth overtake CVX's higher yield?
It doesn't, on the trailing numbers. Chevron Corp (CVX) yields more today (3.75% vs 3.50%) and has also grown its dividend at least as fast (6.5% vs -1.8% a year over five years). Unless EOG accelerates its raises or CVX stumbles, EOG never closes the income gap — CVX wins on both current income and growth.
Can CVX and EOG afford their dividends?
Chevron Corp (CVX) earns $6.63 per share against $6.84 paid out in dividends — 1.0x coverage (a 1% payout ratio).
Eog Resources Inc (EOG) earns $10.07 per share against $3.94 paid out in dividends — 2.6x coverage (a 38% payout ratio).
EOG's wider coverage leaves more cushion if earnings dip. As a rule of thumb, coverage below about 1.5x (a payout ratio above ~65%) is where a dividend starts to look stretched — worth watching for CVX if earnings weaken.
Which fits an early-retirement income portfolio better, CVX or EOG?
For income you need right now, Chevron Corp (CVX) leads: $100,000 invested today pays about $313 a month at the current 3.75% yield, versus $292 a month from Eog Resources Inc (EOG) at 3.50%.
CVX also leads on dividend growth (6.5% vs -1.8% a year over five years), so the trailing numbers favor it on both fronts.
On consistency: CVX has raised its dividend 38 consecutive years.
Many income investors simply hold both — the mix pairs current yield with growth and spreads single-name risk. Whichever way you lean, dividends are never guaranteed; recheck the payout each quarter rather than setting and forgetting.
$10,000 with DRIP: projected annual income
If each holding keeps raising its dividend at its real 5-year rate and every payment is reinvested, a $10,000 position pays $1,021/yr in CVX vs $413/yr in EOG by year 10.
Assumes dividends are reinvested at the current yield and grow at each holding's trailing 5-year dividend CAGR. A projection, not a prediction — no price appreciation modeled.
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