Perhaps now is a good time for investors to start taking a closer look at Berry Corporation (NASDAQ: BRY) stocks. Over the past month, the stock has garnered considerable attention and managed to post gains of up to 6% over the period.
The stock rally may have been sparked by a company announcement on August 26. At the time, the company announced that, effective August 26, 2021, it had entered into a credit agreement for a reserve-based loan facility that carries a base of up to $ 500 million and a commitment of $ 200 million.
However, it was not big. In addition to this, Berry Corporation also announced that it has repurchased up to 471,000 shares on the open market. The open market share buyback was part of its $ 100 million share buyback program.
After buying those shares, the company still had around $ 47 million to spend on the stock buyback at that time. Investors might now do well to keep track of all the latest news about Berry Corporation and then make a decision about the stock one way or another.
Considering the fact that long investors have benefited massively from these short cuts, it may be time to start following the Allied energy group (OTCMKTS: AGYP) Stock. Last week, the company was also in the middle of the news cycle after announcing that it had reached current production completion in its Baylor County Texas project. George Montieth, who is the CEO of the company, noted that Allied is one step away from being an oil production company.