Corteva Inc (Symbol: CTVA) has climbed into the #205 slot among S&P 500 constituents ranked by market capitalization, displacing Devon Energy Corp. (Symbol: DVN), according to The Online Investor.
Why Market Cap Matters
For investors, market capitalization is one of the most useful yardsticks for comparing companies. Share price alone tells you little — a stock trading at $10 is not necessarily "cheaper" than one at $20. What counts is how many shares are outstanding. Market cap factors in that share count, producing an apples-to-apples measure of what the market assigns to each business.
Right now, that figure stands at $58.53 billion for Corteva Inc (Symbol: CTVA), compared with $53.95 billion for Devon Energy Corp. (Symbol: DVN).
Size Tiers and Index Inclusion
Market cap also determines where a company sits within its peer group — much as a mid-size sedan is benchmarked against other mid-size sedans rather than SUVs. That placement can influence which mutual funds and ETFs hold the stock. A Large Cap fund, for example, might only consider companies above $10 billion. The S&P MidCap index takes the S&P 500 and removes the 100 largest names, leaving 400 smaller companies that can outperform in the right conditions. Because these size distinctions carry real weight, The Online Investor compiles these rankings daily.
Recent Trading and Rankings
Below is a chart of Corteva Inc versus Devon Energy Corp. plotting their respective size rank within the S&P 500 over time (CTVA plotted in blue; DVN plotted in green):
Below is a three month price history chart comparing the stock performance of CTVA vs. DVN:
Examine the full CTVA market cap history vs. the full DVN market cap history.
At the closing bell, CTVA is up about 2.8%, while DVN is down about 0.1% on the day Wednesday.
The 20 Largest U.S. Companies By Market Capitalization »