**Exxon Mobil's Q3 Earnings Surpass Expectations Thanks to Pioneer Natural Merger**

Exxon Mobil reported third-quarter profits that exceeded analysts' projections, bolstered by the acquisition of Pioneer Natural Resources. The oil and gas giant netted $8.6 billion, or $1.92 per share, for the three months ending September 30. This compares to the $9.07 billion, or $2.25 per share, earned in the same period last year.

Despite the decline from the previous year, Exxon's performance surpassed Wall Street predictions, which anticipated earnings of $1.91 per share according to Zacks Investment Research. However, the company's revenue fell short of expectations, totaling $90.02 billion against the forecasted $93.51 billion.

During the third quarter, Exxon's net production hit 4.6 million oil-equivalent barrels per day, marking a 5% increase from the prior quarter. The strong production numbers were further supported by the company's significant acquisitions earlier this year. In July, Exxon announced it would acquire Denbury Resources for $4.9 billion to enhance its carbon capture and storage capabilities. In October, Exxon finalized a $60 billion purchase of shale operator Pioneer Natural Resources, a deal approved by the Federal Trade Commission in May.

In addition to its robust earnings report, Exxon disclosed a 4% rise in its quarterly dividend, bringing it to 99 cents per share.

On the same day, Chevron Corp. also announced strong financial results, reporting an adjusted profit of $2.51 per share on revenue of $50.67 billion. Chevron’s performance surpassed Wall Street's expectations of a $2.47 per share profit on $49.88 billion in revenue. The company continues to focus on asset sales and aims for structural cost reductions of $2 billion to $3 billion by 2026.

Following these announcements, shares of Exxon experienced a modest increase of 35 cents, reaching $117.13, while Chevron shares rose by 3%, closing at $153.69 in morning trading.