Corteva (NYSE:CTVA) Given New $67.00 Price Target at Oppenheimer

Corteva (NYSE:CTVA) had its price objective hoisted 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 research analysts also recently commented on CTVA. 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 decreased their target price on Corteva from $65.00 to $64.00 and set a buy rating for the company in a research note on Thursday, January 11th. Wells Fargo & Company lifted their price target on Corteva from $54.00 to $65.00 and gave the stock an overweight rating in a research report on Friday, February 2nd. Loop Capital raised Corteva from a hold rating to a buy rating and increased their price objective for the company from $57.00 to $65.00 in a research report on Monday, February 12th. Finally, KeyCorp boosted their target price on shares of Corteva from $63.00 to $66.00 and gave the stock an overweight rating in a research report on Tuesday, April 9th. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $63.29.

Corteva Stock Performance

Shares of NYSE CTVA opened at $53.32 on Tuesday. Corteva has a 12-month low of $43.22 and a 12-month high of $63.06. The company has a market cap of $37.26 billion, a PE ratio of 52.28, a P/E/G ratio of 1.40 and a beta of 0.77. The stock has a 50 day simple moving average of $55.20 and a 200-day simple moving average of $50.22. The company has a current ratio of 1.56, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Thursday, February 1st. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $3.54 billion. During the same period in the previous year, the firm earned $0.16 EPS. On average, equities research analysts forecast that Corteva will post 2.86 EPS for the current year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date was Thursday, February 29th. Corteva’s dividend payout ratio is currently 62.75%.

Institutional Trading of Corteva

Several hedge funds have recently modified their holdings of the stock. WCM Investment Management LLC boosted its position in Corteva by 3.1% in the 4th quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock valued at $341,590,000 after buying an additional 213,949 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new position in Corteva in the third quarter valued at about $1,258,000. 17 Capital Partners LLC acquired a new stake in Corteva in the fourth quarter worth about $1,649,000. Factory Mutual Insurance Co. raised its holdings in Corteva by 10.7% during the 4th quarter. Factory Mutual Insurance Co. now owns 532,558 shares of the company’s stock worth $25,520,000 after purchasing an additional 51,500 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in Corteva by 9.7% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 777,833 shares of the company’s stock valued at $39,794,000 after purchasing an additional 68,593 shares during the period. 81.54% of the stock is owned by 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.