TETRA Technologies, Inc. (TTI), Basic Energy Services, Inc (BAS): This Fund Manager Has Just Opened New Positions in These Companies

Nonetheless, TETRA faces a number of operational challenges in 2015, including weakening demand in its Offshore Services Segment, slim profit margins, and a weak operating cash flow. TETRA Technologies, Inc. (NYSE:TTI) doesn’t enjoy a lot of support from other hedge funds we track, aside from Balyasny. The only other investor with a significant long position in the company is Mariko Gordon’s Daruma Asset Management, which has 6.51 million shares, according to its latest 13F filing.

Basic Energy Services, Inc (NYSE:BAS) has not fared as poorly since the beginning of the year as TETRA, shedding less than 2%. The Texas-based company provides services to companies operating in the oil and natural gas production industries, primarily services for maintaining oil and gas wells, as well as a saltwater disposal network. Like TETRA, it also faces several operational challenges in the short term, including a high debt-to-equity ratio of 2.58, as well as the need to counter falling income and profit margins, which in the case of the former, slid to -$18.81 million in the fourth quarter of 2014 from -$7.41 million in the fourth quarter of 2013.

Basic Energy Services, Inc (NYSE:BAS) also enjoys more attention from investors than TETRA. Billionaires Israel Englander and Jim Simons own 822,100 shares and 761,200 shares, respectively, as of the end of 2014, though each position accounted for a miniscule amount of their equity portfolios (around 0.01% each). Balyasny’s new position now makes him the largest shareholder among the funds we track.

Disclosure: None