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

Corteva (NYSE:CTVA) had its target price upped by Oppenheimer from $62.00 to $67.00 in a research note published on Tuesday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other brokerages also recently commented on CTVA. Royal Bank of Canada raised their price objective on shares of Corteva from $56.00 to $64.00 and gave the company an outperform rating in a research report on Friday, February 2nd. TheStreet upgraded Corteva from a c+ rating to a b- rating in a research note on Tuesday, February 27th. UBS Group cut their price objective on Corteva from $65.00 to $64.00 and set a buy rating for the company in a research report on Thursday, January 11th. Mizuho decreased their target price on shares of Corteva from $59.00 to $56.00 and set a buy rating on the stock in a research report on Thursday, February 1st. Finally, JPMorgan Chase & Co. reaffirmed a neutral rating and set a $57.00 price target (down from $58.00) on shares of Corteva in a research note on Friday, April 12th. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $63.29.

Corteva Trading Up 1.6 %

NYSE:CTVA opened at $54.80 on Tuesday. Corteva has a 12-month low of $43.22 and a 12-month high of $62.10. The company has a current ratio of 1.56, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09. The stock’s 50 day simple moving average is $55.23 and its 200-day simple moving average is $50.30. The firm has a market cap of $38.30 billion, a P/E ratio of 53.73, a PEG ratio of 1.40 and a beta of 0.77.

Corteva (NYSE:CTVA) last announced its quarterly earnings data 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. Corteva had a net margin of 4.27% and a return on equity of 7.43%. The company had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.54 billion. During the same period in the previous year, the company posted $0.16 EPS. Equities analysts anticipate that Corteva will post 2.84 EPS for the current year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Thursday, February 29th. Corteva’s dividend payout ratio is presently 62.75%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC acquired a new position in shares of Corteva in the first quarter valued at approximately $25,000. Rise Advisors LLC grew its stake in Corteva by 2,522.2% in the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after acquiring an additional 454 shares during the period. Cornerstone Planning Group LLC acquired a new position in Corteva in the 2nd quarter valued at $28,000. Albion Financial Group UT lifted its stake in shares of Corteva by 77.2% during the 1st quarter. Albion Financial Group UT now owns 505 shares of the company’s stock worth $29,000 after purchasing an additional 220 shares during the period. Finally, CVA Family Office LLC acquired a new stake in shares of Corteva during the fourth quarter worth $25,000. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Company Profile

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.