NEW YORK, Feb. 27, 2020 /PRNewswire/ -- Gardner Denver Holdings Inc. (NYSE:GDI) will replace Cimarex Energy Co. (NYSE :XEC) in the S&P 500, and Cimarex Energy will replace Chesapeake Energy Corp. (NYSE:CHK) in the S&P MidCap 400 effective prior to the open of trading on Tuesday, March 3. S&P 500 constituent Ingersoll-Rand plc (NYSE:IR) is spinning off its industrial segment business which will be merged with Gardner Denver Holdings. Post-spin-off, the "old" Ingersoll-Rand will change its name and ticker to Trane Technologies plc (NYSE:TT), and Trane will remain in the S&P 500 with a Global Industry Classification Standard (GICS) change to Building Products Sub-Industry classification. Immediately following its merger with the industrial segment business, Gardner Denver will have a name and ticker change to "new" Ingersoll Rand Inc. (NYSE:IR). Cimarex Energy has a market capitalization more representative of the mid-cap market space. Chesapeake Energy is ranked near the bottom of the S&P MidCap 400 and is no longer representative of the mid-cap market space.
Gardner Denver provides mission-critical flow control and compression equipment and associated aftermarket parts, consumables, and services. Headquartered in Milwaukee, WI, the company will be added to the S&P 500 GICS Industrial Machinery Sub-Industry index.
Cimarex Energy operates as an independent oil and gas exploration and production company. Headquartered in Denver, CO, the company will be added to the S&P MidCap 400 GICS Oil & Gas Exploration & Production Sub-Industry index.
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Gardner Denver provides mission-critical flow control and compression equipment and associated aftermarket parts, consumables, and services. Headquartered in Milwaukee, WI, the company will be added to the S&P 500 GICS Industrial Machinery Sub-Industry index.
Cimarex Energy operates as an independent oil and gas exploration and production company. Headquartered in Denver, CO, the company will be added to the S&P MidCap 400 GICS Oil & Gas Exploration & Production Sub-Industry index.
For more information about S&P Dow Jones Indices, please visit www.spdji.com.
ABOUT S&P DOW JONES INDICES
S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500 and the Dow Jones Industrial Average. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has become home to over 1,000,000 indices across the spectrum of asset classes that have helped define the way investors measure and trade the markets.
S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spdji.com.
FOR MORE INFORMATION:
S&P Dow Jones Indices
index_services@spglobal.com
Media Inquiries
spdji.comms@spglobal.com
Index Governance Inquiries
IGCC@spglobal.com
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