For the second week running, energy insiders are stepping up to the plate and buying huge blocks of stock. With the price of crude dipping under $30 this week, and bearish analysts touting a possible trip to $20, the contrarians are making big bets that this possibly could be the low for the sector. While we have seen some insiders buying in the energy arena over the past six months, nothing has hit the tape like what we saw this past week.

We cover insider buying every week at 24/7 Wall St., and we like to remind our readers that while insider buying is usually a very positive sign, it is not in of itself a reason to run out and buy a stock. Sometimes insiders and 10% owners have stock purchase plans set up at intervals to add to their holdings. That aside, it still remains a positive indicator.

Here are some of the companies that reported notable insider buying this week.

Phillips 66 (NYSE: PSX) had a big-time buyer on the desk once again this past week. Warren Buffett’s Berkshire Hathaway was busy scooping up a massive 902,442 shares of this energy manufacturing and logistics company at prices between $75.41 and $77.50 per share. The total for the trade came to $69 million. The investing legend bought an additional 1,741,210 shares at prices between $76.17 and $77.18. The total for this buy was a staggering $132 million. The stock closed on Friday at $78.47.

Crestwood Equity Partners L.P. (NYSE: CEQP) had insider buying for the fourth time in past month. A director purchased a huge 366,770 shares at prices between $16.56 and $16.95 apiece. The total for the buy was a solid $6.2 million. The company provides midstream solutions to customers in crude oil, natural gas and natural gas liquids in the United States. The shares ended the week at $13.99.

Summit Midstream Partners L.P. (NYSE: SMLP) is another energy company that saw an insider buying shares, and the company hit our screens last week as well. A director picked up 296,142 shares at prices that ranged from $16.87 to $17.56. The total for the trade came to a sizable $5.1 million. The company focuses on owning, developing and operating midstream energy infrastructure assets, primarily in shale formations in North America. It also provides natural gas gathering, treating and processing services. Shares were trading at $16.64 on Friday’s close.

Conns Inc. (NASDAQ: CONN) is a top retail company that saw insider buying last week. Two 10% owners and a company director bought a total of 320,476 shares between them at prices that ranged from $16.25 to $17.21. The total for the purchase came to a sizable $5.4 million. Conns operates as a specialty retailer of durable consumer goods and related services in the United States, with approximately 100 retail locations as of November 12, 2015. The stock closed Friday at $13.62.

Del Frisco’s Restaurant Group Inc. (NASDAQ: DFRG) had a 10% owner of the company, Fidelity National, purchasing stock last week. A total of 194,080 shares were acquired at prices that ranged from $14.54 to $15.00 apiece. The total for the buy was a mouthwatering $2.9 million. The company develops, owns and operates restaurants in the United States under the Del Frisco’s Double Eagle Steak House, Sullivan’s Steakhouse and Del Frisco’s Grille banners. Shares closed at $15.44 on Friday, up nearly 2% on the day.

These companies also reported insider buying this past week: American Eagle Outfitters Inc. (NYSE: AEO), comScore Inc. (NASDAQ: SCOR), Gastar Exploration Inc. (NYSE: GST), Ruby Tuesday Inc. (NYSE: RT) and Sears Holdings Corp. (NASDAQ: SHLD).

After a wild and woolly weak that saw the market plunge to the lows put in last summer, many savvy investors are using the extreme weakness to load the proverbial boat. Investors, especially in the energy sector, should be encouraged to see such aggressive buying at these levels.

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