Evolution Petroleum Corporation (NYSE:EPM) (“Evolution” or the “Company”), an independent energy company focused on maximizing total returns to its shareholders, today announced that it is set to rejoin the broad-market Russell 2000® and Russell 3000® indexes at the conclusion of the 2023 Russell indexes annual reconstitution, effective after the U.S. market opens on June 26, 2023, according to a preliminary list of additions posted May 19, 2023.
The annual Russell indexes reconstitution process captures the 4,000 largest U.S. stocks as of April 28, 2023, ranking them by total market capitalization. Membership in the U.S. all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index and the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings, and style attributes.
Kelly Loyd, President and Chief Executive Officer, commented, “Evolution’s inclusion in the 2023 Russell 2000® and Russell 3000® indexes, after having not been included since 2020, is a welcomed milestone that we’re proud to achieve again. Our re-inclusion illustrates the financial and operating growth we have achieved under our long-term strategic plan.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12.1 trillion in assets are benchmarked against Russell’s U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider. For more information on the Russell indexes and reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.
