PSX is an independent downstream energy company, engaged in the refining and marketing of oil and gas, and also is in power generation, lubricants and other related activities.
When a sector as important as energy and energy services sees a marked increase in insider buying it behooves us to pay keen attention.
The companies mentioned in this article all have valuable operations and experienced management, so it's not surprising that insiders would be picking up more shares at bargain prices. View each company in the light of their profitability and earnings growth before you also consider opening your wallet and participate in the buying.
At the very least familiarize yourself with the more well-established candidates like McDermott, which in the past 52-weeks saw its shares trade as high as $21.69.This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.