Par Petroleum Corporation Joins Russell 3000® Index
HOUSTON, June 29, 2015 /PRNewswire/ -- Par Petroleum Corporation (NYSE MKT: PARR) ("Par") announced today that it has joined the broad-market Russell 3000® Index after Russell Investments ("Russell") reconstituted its comprehensive set of U.S. and global equity indexes on June 26, 2015. Inclusion in the Russell 3000 Index indicates that Par Petroleum, based upon its total market capitalization, will also automatically be included in the widely followed Russell 2000® Index for U.S. small-cap stocks.
Joseph Israel, Par's President and CEO, commented, "Our addition to the Russell 3000 Index demonstrates the progress we have made in creating shareholder value and should provide the opportunity to expose our company to a wider audience of investors as we continue to optimize and grow the company."
The annual reconstitution of Russell's U.S. indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. Membership in the Russell 3000 Index, which remains in place for one year, means automatic inclusion in either the large-cap Russell 1000® Index or small-cap Russell 2000 Index, as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
The Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $5.7 trillion in assets are benchmarked to the Russell U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
ABOUT PAR PETROLEUM CORPORATION
Par Petroleum Corporation, headquartered in Houston, Texas, is a growth-oriented integrated refiner and marketer of petroleum products. Par, through its subsidiaries, owns and operates a 94,000 bpd refinery with related logistics and retail network in Hawaii. Par also transports, markets and distributes crude oil from Western U.S. and Canada to refining hubs in the Midwest, the Gulf Coast, the East Coast and Hawaii. In addition, Par owns 34% of Piceance Energy, LLC, which has natural gas production and reserves located in the Piceance Basin of Colorado. Par's charter contains restrictions that prohibit parties from acquiring 5% or more of Par's common stock without the company's prior consent. For more information, visit http://www.ppetrol.com.
For more information please contact:
Christine Thorp
Director, Investor Relations
(832) 916-3396
SOURCE Par Petroleum Corporation
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