Corteva (NYSE:CTVA) Receives “Outperform” Rating from Oppenheimer

Oppenheimer reiterated their outperform rating on shares of Corteva (NYSE:CTVA) in a research report report published on Friday morning,Benzinga reports. They currently have a $70.00 target price on the stock, up from their previous target price of $69.00.

CTVA has been the topic of a number of other reports. JPMorgan Chase & Co. lowered their price objective on Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Wells Fargo & Company lowered their price target on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. KeyCorp cut their price objective on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Argus cut shares of Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, UBS Group raised their price target on Corteva from $67.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Corteva presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.47.

Corteva Stock Up 1.3 %

CTVA stock traded up $0.75 during midday trading on Friday, hitting $59.08. The company’s stock had a trading volume of 184,125 shares, compared to its average volume of 3,256,080. Corteva has a twelve month low of $43.22 and a twelve month high of $63.75. The stock has a market capitalization of $40.90 billion, a P/E ratio of 58.92, a PEG ratio of 1.78 and a beta of 0.77. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.17. The company’s fifty day moving average price is $58.19 and its 200 day moving average price is $55.60.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.17 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.15%. Corteva’s dividend payout ratio is presently 68.69%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Rovin Capital UT ADV raised its holdings in shares of Corteva by 1.3% during the 3rd quarter. Rovin Capital UT ADV now owns 12,822 shares of the company’s stock valued at $754,000 after buying an additional 168 shares in the last quarter. Capital Advisors Ltd. LLC boosted its position in Corteva by 44.4% during the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after buying an additional 174 shares during the period. Proffitt & Goodson Inc. increased its holdings in shares of Corteva by 2.2% in the third quarter. Proffitt & Goodson Inc. now owns 8,030 shares of the company’s stock worth $472,000 after buying an additional 174 shares during the period. Pinnacle Bancorp Inc. raised its holdings in Corteva by 26.1% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company’s stock valued at $57,000 after buying an additional 199 shares during the last quarter. Finally, Herr Investment Group LLC lifted its holdings in Corteva by 2.8% in the 1st quarter. Herr Investment Group LLC now owns 7,400 shares of the company’s stock worth $427,000 after buying an additional 200 shares during the period. Institutional investors 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.