One energy company that insiders are paying up to own shares of is Helix Energy Solutions Group ( HLX), an international offshore energy company that provides reservoir development solutions and other contracting services to the energy market, as well as to its own oil and gas properties, Insiders don't seem to care that HLX is already up over 32% in 2011 because they have been snapping up shares recently. Helix Energy Solutions Group has a market cap of $1.7 billion and an enterprise value of $2.66 billion. This stocks trades at a forward price-to-earnings of 13.4. This company isn't cash-rich, with $440.53 million on cash on its balance sheet and over $1.36 billion in total debt. Helix's CEO and president just bought 67,000 shares or $998,491 worth of stock between $14.78 and $15 per share. The last time this CEO bought some stock was back in August of 2010 when close to $1 million was purchased at $9.47 to $9.68 a share. From a technical standpoint, this stock has started to make lower highs since it topped out back in May at $19.20 a share. I wouldn't touch this stock from the long side as long as that chart pattern remains because it shows that traders are selling into every rally and accepting even lower prices. I would rather look to buy it closer to the 200-day moving average of $14.03 a share as long as it finds some buying support. Another way to play this is to only buy it once it takes out $17.62 a share which would break the chart pattern of lower highs. You could then add aggressively once it moves above $19.20 a share to that position. It's worth noting that Helix has a reasonable short position. The current short interest as a percentage of the float for HLX stands at 6.3%. Considering the technical picture of this stock right now, the bears are in control and I would wait for lower prices before following the insiders. One big bullish bet on Helix comes from Ronald Muhlenkamp's Muhlenkamp Fund, which had a 879,000 share position in the stock as of the most recent reporting period.