Corteva (NYSE:CTVA) Price Target Increased to $67.00 by Analysts at Oppenheimer

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

A number of other brokerages have also weighed in on CTVA. BNP Paribas raised shares of Corteva from an underperform rating to a neutral rating and set a $53.00 price objective on the stock in a report on Friday, February 2nd. Mizuho cut their price objective on Corteva from $59.00 to $56.00 and set a buy rating on the stock in a report on Thursday, February 1st. UBS Group reduced their price objective on Corteva from $65.00 to $64.00 and set a buy rating for the company in a research note on Thursday, January 11th. Barclays upped their target price on Corteva from $55.00 to $58.00 and gave the company an equal weight rating in a research report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. reissued a neutral rating and set a $57.00 price target (down from $58.00) on shares of Corteva in a research report on Friday. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Corteva has a consensus rating of Moderate Buy and a consensus target price of $63.29.

Corteva Stock Down 0.7 %

NYSE:CTVA traded down $0.35 during mid-day trading on Tuesday, hitting $53.32. 2,742,837 shares of the company's stock traded hands, compared to its average volume of 3,668,961. The company has a fifty day moving average of $55.17 and a 200 day moving average of $50.20. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 1.56. Corteva has a twelve month low of $43.22 and a twelve month high of $63.06. The company has a market capitalization of $37.26 billion, a P/E ratio of 52.62, a P/E/G ratio of 1.40 and a beta of 0.77.

Corteva (NYSE:CTVA - Get Free Report) last posted 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. The firm had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.54 billion. Corteva had a net margin of 4.27% and a return on equity of 7.43%. During the same quarter in the prior year, the company posted $0.16 earnings per share. On average, analysts forecast that Corteva will post 2.86 EPS for the current year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.20%. The ex-dividend date was Thursday, February 29th. Corteva's payout ratio is presently 62.75%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. CVA Family Office LLC acquired a new position in shares of Corteva during the fourth quarter valued at approximately $25,000. BKM Wealth Management LLC acquired a new stake in Corteva during the fourth quarter worth about $27,000. Rise Advisors LLC raised its stake in Corteva by 2,522.2% during the first 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 boosted its holdings in Corteva by 70.6% in 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 grew its stake in shares of Corteva by 234.3% in the 3rd 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 and hedge funds 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.