5 Dividend Stocks to Buy According to Billionaire Jim Simons’ Hedge Fund

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

Renaissance Technologies’ Stake Value: $74,552,000

Percentage of Renaissance Technologies’ 13F Portfolio: 0.09%

Number of Hedge Fund Holders: 23

Dividend Yield on December 16: 19.13%

Offering petroleum, petroleum products, natural gas, lubricant, petrochemicals, fertilizers, and biofuels, Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) is a Brazilian state-owned multinational oil and gas company. As of September end, Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) stock accounts for 0.09% of the total investments at Jim Simons’ Renaissance Technologies, with the hedge fund holding 7.45 million shares worth $74.55 million. 

A total of 23 hedge funds in the Q3 database of Insider Monkey were long Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR), with stakes amounting to over $3 billion. Rajiv Jain’s GQG Partners is the largest Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) stakeholder, increasing its stake in the company by 25% in Q3, with 173.3 million shares worth $1.79 billion.

In the Q3 results disclosed on October 28 by Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR), EPS for the quarter totaled $0.47, beating estimates by $0.14. Revenue for the period came in at $21.61 billion, missing analysts’ consensus estimates by $296.05 million. 

Goldman Sachs analyst Bruno Amorim upgraded Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) on December 15 to Buy from Neutral with a $14.20 price target. The analyst stated that he now sees a better risk/reward for Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) despite the existing risks of a change in the fuels pricing policy and capital allocation strategy going into 2022.