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Sydnee Gatewood
Sydnee Gatewood
Articles (2955) 

Francisco Garcia Parames Comments on Teekay

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May 01, 2020 | About:
In times of crisis, the market exacerbates its irrationality, and it is difficult to escape it. This happened in 2008 and it has happened again. It is surprising to see the Teekay Group (NYSE:TGP) (our largest investment at this time) undergo sharp price falls during this crisis when on 16 April Teekay LNG confirmed a 36% increase in its dividend; a unique situation, at a time when countless companies are eliminating the dividend. To our knowledge, there is no known company that has confirmed an increase of this kind in the last month. In the meantime, TGP has gone from a P&E ratio of 5x to 3x, etc.

From Francisco Garcia Parames (Trades, Portfolio)' Cobas Asset Management first-quarter 2020 shareholder letter.

About the author:

Sydnee Gatewood
I am the editorial director at GuruFocus. I have a BA in journalism and a MA in mass communications from Texas Tech University. I have lived in Texas most of my life, but also have roots in New Mexico and Colorado. Follow me on Twitter! @gurusydneerg

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