NEW YORK, Feb. 16, 2016 /PRNewswire/ -- Concho
Resources Inc. (NYSE:CXO) will replace Plum Creek Timber Co.
(NYSE:PCL) in the S&P 500 after the close of trading on
Friday, February 19. S&P 500
constituent Weyerhaeuser Co. (NYSE:WY) is acquiring Plum Creek
Timber in a deal expected to be completed on or about that date
pending final conditions.
Concho Resources acquires, develops, and explores for oil and
natural gas properties. Headquartered in Midland, TX, the company will be added to the
S&P 500 GICS (Global Industry Classification Standard) Oil
& Gas Exploration & Production Sub-Industry index.
Following is a summary of the change:
S&P 500 INDEX
– February 19, 2016
|
|
COMPANY
|
GICS ECONOMIC
SECTOR
|
GICS
SUB-INDUSTRY
|
ADDED
|
Concho
Resources
|
Energy
|
Oil & Gas
Exploration & Production
|
DELETED
|
Plum Creek
Timber
|
Financials
|
Specialized
REITs
|
Additions to and deletions from S&P Dow Jones Indices
do not in any way reflect an opinion on the investment merits of
the companies involved.
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