Veeva Systems Set to Join S&P 500

Q: What tickers and sectors are involved in the May 7, 2026 S&P 500 update?

The May 7, 2026 update adds VEEV (Health Care) and deletes CTRA (Energy). According to Veeva Systems, these are the listed ticker and GICS sector entries for the change.

Veeva Systems (NYSE:VEEV) will be added to the S&P 500 and will replace Coterra Energy (NYSE:CTRA) effective before the opening of trading on May 7, 2026.

Rhea-AI Impact

(Neutral)

Rhea-AI Sentiment

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Rhea-AI Summary

Veeva Systems (NYSE:VEEV) will be added to the S&P 500 and will replace Coterra Energy (NYSE:CTRA) effective before the opening of trading on May 7, 2026. Devon Energy (NYSE:DVN) is acquiring Coterra in a transaction expected to close soon, pending final closing conditions.

Positive

Veeva Systems (VEEV) will join the S&P 500 effective May 7, 2026
Addition to S&P 500 provides passive-index inclusion for Veeva

Negative

Coterra Energy (CTRA) will be removed from the S&P 500 effective May 7, 2026
Coterra acquisition by Devon (DVN) remains subject to final closing conditions

Argus May 1 session

-1.58% close to close Open Argus

Details

News Market Reaction – DVN

On May 1, the first trading day after this news, DVN closed 1.58% below the previous close.

Data tracked by StockTitan Argus for the May 1 session.

Key Figures

Exchange ratio: 0.70 shares Stock consideration: $23,386 million New shares issued: 531.5 million +5 more

Exchange ratio: 0.70 shares; Each Coterra share converts into 0.70 Devon common shares in merger
Stock consideration: $23,386 million; Preliminary estimated stock consideration based on $44.00 DVN price
New shares issued: 531.5 million; Estimated Devon shares to be issued in Coterra all-stock merger
Pro forma net earnings: $3,768 million; Pro forma 2025 net earnings attributable to Devon for combined company
Discounted future cash flow: $32,362 million; Standardized discounted future net cash flow for combined 2025 pro forma
Proved reserves: 4,993 MMBoe; Pro forma 2025 proved reserves of combined Devon–Coterra entity
Shares outstanding: 621,437,123 shares; Devon common stock outstanding as of March 31, 2026
Ownership split: 54% / 46%; Estimated pro forma ownership Devon vs. Coterra holders after merger

Historical Context

5 past events · Latest: Apr 28

5 events

Apr 28
Activist letter

24h Move

+2.7%

Kimmeridge letter to future Devon board supporting merger but urging actions.
Apr 08
Earnings scheduling

24h Move

-4.1%

Devon scheduled its Q1 2026 earnings release and conference call dates.
Feb 26
Results & dividend

24h Move

+2.0%

Coterra reported strong 2025 results, issued 2026 guidance and a dividend.
Feb 17
Results & dividend

24h Move

+0.9%

Devon reported 2025 results, declared a fixed dividend and gave 2026 outlook.
Feb 02
Merger commentary

24h Move

+2.4%

Kimmeridge issued comments on the proposed Coterra–Devon merger structure.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

s&p 500, gics sector

2 terms

s&p 500 financial

"Veeva Systems Inc. (NYSE: VEEV) will replace Coterra Energy Inc. (NYSE: CTRA) in the S&P 500"

The S&P 500 is a broad stock market index that tracks the performance of 500 large U.S. companies, weighted so bigger firms have a larger impact. Investors use it like a thermometer or benchmark to judge how the overall U.S. stock market or a portfolio is doing; movements in the index influence investor sentiment, fund performance, and many passive investment products that aim to match its returns.

View in glossary

gics sector technical

GICS sector is one of the major industry groupings from the Global Industry Classification Standard, a system that sorts companies into consistent categories (like Technology or Health Care) based on the primary business they do. Investors use these sectors like folders in a filing cabinet to compare companies, build diversified portfolios, and track how whole parts of the market are performing rather than focusing on single stocks.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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04/30/2026 - 06:23 PM EDT

NEW YORK, April 30, 2026 /PRNewswire/ -- Veeva Systems Inc. (NYSE: VEEV) will replace Coterra Energy Inc. (NYSE: CTRA) in the S&P 500 effective prior to the opening of trading on Thursday, May 7. S&P 500 constituent Devon Energy Corp. (NYSE: DVN) is acquiring Coterra Energy in a deal expected to close soon, pending final closing conditions.

Following is a summary of the changes that will take place prior to the open of trading on the effective date:

Effective Date	Index Name		Action	Company Name	Ticker	GICS Sector
May 7, 2026	S&P 500	Addition		Veeva Systems	VEEV	Health Care
May 7, 2026	S&P 500	Deletion		Coterra Energy	CTRA	Energy

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FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

When will Veeva Systems (VEEV) be added to the S&P 500?

Veeva Systems (VEEV) will be added to the S&P 500 effective before market open on May 7, 2026. According to Veeva Systems, the change replaces Coterra Energy (CTRA) in the index and takes effect prior to the opening of trading that day.

Which company is VEEV replacing in the S&P 500 on May 7, 2026?

VEEV is replacing Coterra Energy (CTRA) in the S&P 500 effective May 7, 2026. According to Veeva Systems, the replacement follows corporate actions tied to Coterra and Devon Energy (DVN).

How does the Devon Energy (DVN) deal affect Coterra's S&P 500 status?

Devon Energy's (DVN) acquisition of Coterra is expected to close soon and is cited as the reason for Coterra's S&P 500 removal. According to Veeva Systems, the transaction remains subject to final closing conditions.

Will the S&P 500 change for VEEV take place during trading hours on May 7, 2026?

The index change will occur prior to the opening of trading on May 7, 2026. According to Veeva Systems, additions and deletions will be effective before the market opens that day.

What tickers and sectors are involved in the May 7, 2026 S&P 500 update?

The May 7, 2026 update adds VEEV (Health Care) and deletes CTRA (Energy). According to Veeva Systems, these are the listed ticker and GICS sector entries for the change.

Veeva Systems Set to Join S&P 500