It might well be the right time for investors to start looking into the Berry Corporation (NASDAQ:BRY) stock a bit more closely. Over the course of the past month, the stock has gained considerable attention and managed to clock gains of as much as 6% during the period.
The rally in the stock may have been triggered by an announced from the company back on August 26. At the time, the company announced that effective August 26, 2021 it entered into a credit agreement with regards to a Reserve Based Lending facility that bears a base of as much as $500 million to go along with a commitment of $200 million.
However, that was no tall. In addition to that, Berry Corporation also announced that it repurchased as many as 471000 shares from the open market. The repurchase of the stock from the open market was part of its $100 million share repurchase program.
After the purchase of those shares, the company still had around $47 million to spend on share repurchase at that point of time. Investors could now do well to keep track of all the latest news with regards to Berry Corporation and then make a decision about the stock one way or another.
Considering the fact that long investors have benefitted massively from such short squeezes, it might be the right time to start tracking the Allied Energy Group (OTCMKTS:AGYP) stock. Last week, the company had been in the middle of the news cycle as well after it announced that it hit the achievement of ongoing production at its Baylor County Texas project. George Montieth, who is the Chief Executive Officer of the company, noted that Allied was a step away from being an oil production company.
