Market cap of Corteva Inc. [CTVA] reaches 41.23B – now what?

Corteva Inc. [NYSE: CTVA] traded at a low on 03/15/23, posting a -3.51 loss after which it closed the day’ session at $56.85. The company report on March 14, 2023 that Corteva Agriscience, Bunge and Chevron Announce Collaboration to Produce Winter Canola to Meet Growing Demand for Lower Carbon Renewable Fuels.

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Corteva Inc. (NYSE: CTVA), Bunge (NYSE:BG) and Chevron U.S.A. Inc., a subsidiary of Chevron Corporation (NYSE: CVX), announced today a commercial collaboration to introduce proprietary winter canola hybrids that produce plant-based oil with a lower carbon profile. The goal is to increase the availability of vegetable oil feedstocks primarily for the growing domestic renewable fuels market. The companies plan to introduce the winter canola crop into the southern United States with an intention to create a new revenue opportunity for farmers with a sustainable crop rotation.

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The results of the trading session contributed to over 4129458 shares changing hands. Over the past one week, the price volatility of Corteva Inc. stands at 3.14% while the volatility over the past one month is 2.43%.

The market cap for CTVA stock reached $41.23 billion, with 714.80 million shares outstanding and 711.18 million shares in the current float. Compared to the average trading volume of 3.37M shares, CTVA reached a trading volume of 4129458 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Corteva Inc. [CTVA]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CTVA shares is $72.90 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CTVA stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wells Fargo have made an estimate for Corteva Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 19, 2023. While these analysts kept the previous recommendation, BofA Securities raised their target price from $64 to $68. The new note on the price target was released on January 11, 2023, representing the official price target for Corteva Inc. stock. Previously, the target price had yet another raise from $70 to $73, while UBS kept a Neutral rating on CTVA stock. On November 15, 2022, analysts increased their price target for CTVA shares from 70 to 71.

The Average True Range (ATR) for Corteva Inc. is set at 1.64, with the Price to Sales ratio for CTVA stock in the period of the last 12 months amounting to 2.36. The Price to Book ratio for the last quarter was 1.61, with the Price to Cash per share for the same quarter was set at 4.57.

How has CTVA stock performed recently?

Corteva Inc. [CTVA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.60. With this latest performance, CTVA shares dropped by -9.00% in over the last four-week period, additionally sinking by -9.26% over the last 6 months – not to mention a rise of 4.87% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CTVA stock in for the last two-week period is set at 29.99, with the RSI for the last a single of trading hit 22.38, and the three-weeks RSI is set at 35.03 for Corteva Inc. [CTVA]. The present Moving Average for the last 50 days of trading for this stock 61.80, while it was recorded at 58.64 for the last single week of trading, and 60.65 for the last 200 days.

Corteva Inc. [CTVA]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Corteva Inc. [CTVA] shares currently have an operating margin of +10.84 and a Gross Margin at +35.98. Corteva Inc.’s Net Margin is presently recorded at +6.90.

Return on Equity for this stock inclined to 4.75, with Return on Assets sitting at 2.84.

Corteva Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.60.

Earnings analysis for Corteva Inc. [CTVA]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CTVA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Corteva Inc. go to 13.49%.

Insider trade positions for Corteva Inc. [CTVA]

There are presently around $33,025 million, or 83.30% of CTVA stock, in the hands of institutional investors. The top three institutional holders of CTVA stocks are: VANGUARD GROUP INC with ownership of 82,226,470, which is approximately 0.208% of the company’s market cap and around 0.21% of the total institutional ownership; BLACKROCK INC., holding 60,187,299 shares of the stock with an approximate value of $3.42 billion in CTVA stocks shares; and STATE STREET CORP, currently with $1.92 billion in CTVA stock with ownership of nearly -1.108% of the company’s market capitalization.

Positions in Corteva Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 611 institutional holders increased their position in Corteva Inc. [NYSE:CTVA] by around 36,506,459 shares. Additionally, 523 investors decreased positions by around 37,484,763 shares, while 262 investors held positions by with 506,916,505 shares. The mentioned changes placed institutional holdings at 580,907,727 shares, according to the latest SEC report filing. CTVA stock had 175 new institutional investments in for a total of 8,180,325 shares, while 80 institutional investors sold positions of 1,720,004 shares during the same period.


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