Oppenheimer Raises Corteva (NYSE:CTVA) Price Target to $67.00

Corteva (NYSE:CTVA) had its price target raised by Oppenheimer from $62.00 to $67.00 in a report released on Tuesday, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other equities research analysts have also recently weighed in on the company. KeyCorp increased their price objective on Corteva from $63.00 to $66.00 and gave the stock an overweight rating in a report on Tuesday, April 9th. Barclays boosted their price objective on shares of Corteva from $55.00 to $58.00 and gave the company an equal weight rating in a research report on Wednesday, April 10th. UBS Group reduced their target price on Corteva from $65.00 to $64.00 and set a buy rating on the stock in a report on Thursday, January 11th. Wolfe Research began coverage on shares of Corteva in a research report on Friday, March 1st. They set an outperform rating and a $67.00 price target for the company. Finally, JPMorgan Chase & Co. restated a neutral rating and set a $57.00 price target (down from $58.00) on shares of Corteva in a report on Friday, April 12th. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $63.29.

Corteva Stock Up 0.8 %

Shares of NYSE CTVA opened at $53.96 on Tuesday. Corteva has a one year low of $43.22 and a one year high of $62.97. The stock has a market capitalization of $37.71 billion, a P/E ratio of 52.90, a PEG ratio of 1.40 and a beta of 0.77. The firm’s 50 day simple moving average is $55.20 and its two-hundred day simple moving average is $50.26. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.56 and a quick ratio of 0.90.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Thursday, February 1st. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.09. The business had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.54 billion. Corteva had a net margin of 4.27% and a return on equity of 7.43%. During the same period in the prior year, the business posted $0.16 earnings per share. As a group, analysts expect that Corteva will post 2.84 EPS for the current fiscal year.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend was Thursday, February 29th. Corteva’s payout ratio is 62.75%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CTVA. CVA Family Office LLC purchased a new position in shares of Corteva in the 4th quarter worth approximately $25,000. BKM Wealth Management LLC bought a new position in Corteva during the fourth quarter valued at $27,000. Rise Advisors LLC boosted its stake in shares of Corteva by 2,522.2% during the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after purchasing an additional 454 shares during the period. NewSquare Capital LLC grew its holdings in Corteva by 70.6% during the 3rd quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock valued at $28,000 after purchasing an additional 226 shares during the last quarter. Finally, Glass Jacobson Investment Advisors llc boosted its position in shares of Corteva by 234.3% during the third quarter. Glass Jacobson Investment Advisors llc now owns 555 shares of the company’s stock valued at $28,000 after buying an additional 389 shares during the period. Institutional investors own 81.54% of the company’s stock.

About Corteva

Corteva, Inc operates in the agriculture business. It operates through two segments, Seed and Crop Protection. The Seed segment develops and supplies advanced germplasm and traits that produce optimum yield for farms. It offers trait technologies that enhance resistance to weather, disease, insects, and herbicides used to control weeds, as well as food and nutritional characteristics.