Concho Resources Set to Join the S&P 500

Feb 16, 2016, 18:00 ET from S&P Dow Jones Indices

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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