T. Boone Pickens' Top Dividend Plays

T. Boone Pickens is a famous trader and investor specializing in oil-related companies. He earned $1.4 billion in 2005, making him one of the highest-paid hedge fund managers at the time. His BP Capital Management has generated enormous returns for investors.

As the price of oil makes all-time highs, investors should take a closer look at the income stocks that Pickens owns. With that in mind, Stockpickr has put together a list of the top dividend-paying stocks of T. Boone Pickens.

One of the high-yielding Pickens stocks is ConocoPhillips(COP Quote), which pays a dividend of 2%. The company is reportedly a front-runner in a bid for a gas reserves project in the United Arab Emirates. Its earnings call is scheduled for Jan. 23. The stock has a price-to-earnings (P/E) ratio of 13 and a P/E-to-growth (PEG) ratio of 0.8.

ConocoPhillips stock is also owned by Atticus Capital, a money management firm with $13 billion of assets under management. It also owns Union Pacific(UNP Quote), with a yield of 1.5%, Burlington Northern Santa Fe(BNI Quote), with a 1.6% yield, and MasterCard(MA Quote), which pays 0.3%.

Another top stock owned by Pickens is Greenbrier(GBX Quote), which makes and sells railroad freight car equipment. It just declared its regular quarterly dividend of 8 cents a share, which gives the stock a yield of about 1.7%. The company also just announced that earnings for the latest quarter increased by 41%. The stock has a P/E of 13.3 and a PEG of 0.96.

Greenbrier is in the portfolio of the Keeley Small-Cap Value Fund, a five-star Morningstar-rated fund managed by John Keeley. He also owns Valmont Industries(VMI Quote), which pays a 0.4% yield.

Occidental Petroleum(OXY Quote) is another dividend-paying favorite. The company was upgraded last month by Friedman Billings from underperform to market perform. The stock, which hit a 52-week high on Jan. 3, offers a P/E of 13, a PEG of 1.2 and a yield of 1.3%.

Occidental is a favorite of Ken Fisher, a longtime Forbes columnist and manager of Fisher Asset Management, which has $30 billion under management. Fisher also likes Siemens(SI Quote), which has a yield of 1.3%, Baker Hughes(BHI Quote), at 0.7%, and Goldman Sachs(GS Quote), at 0.7%.

To see more of Pickens' dividend-paying stocks, check out the Oil, Pickens and Yields portfolio at Stockpickr.com. And for his entire stockholdings, check out the entire list of T. Boone Pickens portfolio, also at Stockpickr.com.