Corteva (NYSE:CTVA) Given New $69.00 Price Target at Oppenheimer

Corteva (NYSE:CTVA) had its target price upped by Oppenheimer from $67.00 to $69.00 in a research note published on Friday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

Other equities research analysts also recently issued reports about the stock. BNP Paribas upgraded shares of Corteva from an underperform rating to a neutral rating and set a $53.00 price objective for the company in a research report on Friday, February 2nd. KeyCorp boosted their price target on Corteva from $63.00 to $66.00 and gave the company an overweight rating in a research note on Tuesday, April 9th. Royal Bank of Canada increased their price objective on Corteva from $56.00 to $64.00 and gave the stock an outperform rating in a research report on Friday, February 2nd. Wells Fargo & Company boosted their target price on shares of Corteva from $54.00 to $65.00 and gave the company an overweight rating in a research report on Friday, February 2nd. Finally, 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 on the stock. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Corteva presently has a consensus rating of Moderate Buy and a consensus target price of $63.38.

Corteva Stock Up 0.3 %

CTVA stock opened at $57.16 on Friday. Corteva has a 1-year low of $43.22 and a 1-year high of $60.57. The business’s 50 day simple moving average is $55.37 and its 200 day simple moving average is $50.65. The company has a current ratio of 1.51, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $39.95 billion, a PE ratio of 72.35, a PEG ratio of 1.50 and a beta of 0.78.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.79 by $0.10. The firm had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.65 billion. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The company’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.16 earnings per share. As a group, research analysts anticipate that Corteva will post 2.83 EPS for the current year.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Tuesday, June 4th. Corteva’s dividend payout ratio (DPR) is presently 81.01%.

Institutional Trading of Corteva

Hedge funds have recently added to or reduced their stakes in the stock. CVA Family Office LLC bought a new position in shares of Corteva in the 4th quarter valued at $25,000. Redmont Wealth Advisors LLC bought a new position in Corteva in the first quarter valued at about $25,000. BKM Wealth Management LLC acquired a new stake in shares of Corteva during the fourth quarter valued at about $27,000. Rise Advisors LLC grew its holdings in shares of 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 last quarter. Finally, NewSquare Capital LLC increased its position 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 acquiring an additional 226 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

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.