5 Best Dividend Stocks According to Howard Marks’ Oaktree Capital Management

3. Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Number of Hedge Fund Holders: 23
Dividend Yield as of February 8: 6.68%
Oaktree Capital Management’s Stake Value: $90,996,000

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR), a Brazilian petroleum company, pays a quarterly dividend of $0.616 per share. During the third quarter, the company paid over $7.3 billion in dividends to shareholders. Moreover, Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) expects dividend payments to reach approximately $13 billion per year in over 5 years.

Oaktree Capital started investing in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) during the fourth quarter of 2010. In Q3 2021, the hedge fund held shares of the company worth around $91 million, after increasing its stake in the company by 4%. Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) accounted for 1.27% of the fund’s 13F portfolio.

At the end of Q3 2021, 23 hedge funds tracked by Insider Monkey reported owning a roughly $3 billion worth of stake in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR). In comparison, 25 hedge funds held stakes in the company in the previous quarter, valued at around $2.8 billion. Among these funds, GQG Partners held a stake worth $1.8 billion in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR), becoming its largest shareholder in Q3.