5 Dividend Stocks with Over 10% Yield

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

Number of Hedge Fund Holders: 26

Dividend Yield as of March 2: 13.91%

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) was founded in 1953 and is headquartered in Rio de Janeiro, Brazil, selling oil and gas in Brazil and internationally. On February 24, Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) reported its Q4 earnings, posting an EPS of $0.71, topping estimates by $0.06. The $26.22 billion revenue topped market consensus by $1.21 billion. 

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) reported strong Q4 free cash flow and announced a robust dividend, in line with its recently released multi-year strategy. As of December quarter end, debt was reduced to $59 billion, and Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) announced a BRL 2.86 dividend to be paid in May.

On December 15, Goldman Sachs analyst Bruno Amorim upgraded Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) to Buy from Neutral with a $14.20 price target. The analyst said he now sees a better risk/reward for the company and that cash returns in 2022 provide a cushion, as he assumed Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) will pay not only the 60% stated in their dividend policy but also any excess cash generation in 2022.

Rajiv Jain’s GQG Partners is the largest Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) shareholder, with 187.6 million shares worth more than $2 billion. Overall, 26 hedge funds were bullish on the stock at the end of December 2021.