Exxon Mobil and Pioneer Natural Resources have entered into a merger agreement. Pioneer shareholders will receive 2.3234 shares of Exxon Mobil in exchange for one share of their company, which corresponds to a price of $253 per share. Completion of the merger is expected to take place in the first half of 2024.

Pioneer Natural Resources' GAAP net income for 3 months of 2022 was $2.009 billion, compared to a loss of $0.07 billion in the previous year. Revenue increased 2.5 times to $6.172 billion from $2.444 billion a year earlier.

The Pioneer Natural Resources Board of Directors announced a quarterly dividend of $7.38 per share. The last day to buy securities to receive the dividend is May 26, 2022. The annual dividend yield may reach 8.29%.

Net income of Pioneer Natural Resources under GAAP for 2021 amounted to $2.118 billion, against a loss of $0.2 billion in the previous year. Revenue increased 2.2 times to $14.643 billion from $6.685 billion a year earlier.