Following its quarterly earnings report and the end of a lockout period for insiders to buy up shares, a number of insiders at Encana (ECA) started to add to their stake at the company.

Insider buys included a CEO buy of 12,500 shares, and three directors, who bought nearly 80,000 shares in total at varying prices just under $4 per share. Data on insider activity shows only one small sale in the past two years with many clusters of buying.

Encana shares have lagged the rest of the energy market in the past year, with a slump of 53 percent. Despite that drop, the company trades for just about 7 times forward earnings and trades at a reasonable value relative to its assets.