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ONGC Consensus Forecast
No. of reports in last year
12
No. of analysts
4
Average Consensus Forecast
184.08
Consensus Potential
21.32%
ONGC Price Target Potential
| Brokerage | Target | Potential |
|---|---|---|
| HDFC Securities | 208 | 33.08% |
| Motilal Oswal | 225 | 38.13% |
| Prabhudas Lilladher | 210 | 33.71% |
| ICICIdirect.com | 185 | 24.76% |
ONGC Ratings
Long term ONGC rating by FrontPage users
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5/5 (1 Ratings)
12 ONGC share price target reports by brokerages below. See what is analyst's view on ONGC share price forecast, rating, estimates, valuation and prediction behind the target. You may use these research report forecasts for long-term to medium term for your investment or trades in 2020.
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ONGC Share Price Target
ONGC Share Price Target - Broker Reports - 2022
HDFC Securities
Price @ Call: 166
15-Feb-22
Target: 208
BUY
Motilal Oswal
Price @ Call: 166
14-Feb-22
Target: 225
BUY
Prabhudas Lilladher
Price @ Call: 168
14-Feb-22
Target: 210
BUY
ICICIdirect.com
Price @ Call: 164
16-Feb-22
Target: 185
HOLD
ONGC Share Price Target - Broker Reports - 2021
HDFC Securities
Price @ Call: 155
15-Nov-21
Target: 208
BUY
Motilal Oswal
Price @ Call: 155
13-Nov-21
Target: 195
BUY
ICICIdirect.com
Price @ Call: 158
15-Nov-21
Target: 180
HOLD
Prabhudas Lilladher
Price @ Call: 155
15-Nov-21
Target: 210
BUY
ICICIdirect.com
Price @ Call: 168
6-Oct-21
Target: 185
HOLD
HDFC Securities
Price @ Call: 116
16-Aug-21
Target: 143
BUY
ICICIdirect.com
Price @ Call: 114
19-Aug-21
Target: 110
HOLD
Geojit Financial Services
Price @ Call: 122
29-Jun-21
Target: 145
BUY
Motilal Oswal
Price @ Call: 116.1
15-Aug-21
Target: 150
BUY
Prabhudas Lilladher
Price @ Call: 98.4
15-Feb-21
Target: 689.5
BUY
ONGC Share Price Target - Broker Reports - 2020
Prabhudas Lilladher
Price @ Call: 79.84
1-Jul-20
Target: 96
BUY
We cut our estimates for FY21/22E to factor in lower gas realization and FY20 actuals. Global crude oil and gas prices are likely to remain weak given weak global macros and rising supplies. ONGC stock has underperformed the broader index due to concerns on divestment of Government of India share and inefficient capital allocation policies. However, ONGC’s gas volume growth is likely to improve from new supplies. Reiterate BUY with a Price target of Rs96 based on 5x FY22E PER (Rs115).
Prabhudas Lilladher
Price @ Call: 103.25
17-Feb-20
Target: 167
BUY
We cut our estimates for FY20-22E by ~ 22% to factor in lower crude oil prices of USD62-65/bbl (USD70/bbl early), lower domestic gas prices and weak profits in MRPL and HPCL given weak refining margins. Global crude oil and gas prices are likely to remain weak given weak global macros and rising supplies. ONGC stock has underperformed the broader index due to concerns on divestment of Government of India share and inefficient capital allocation policies. However, ONGC’s volume growth is likely to improve from new supplies. Reiterate BUY with a Price target of Rs167 (Rs184 earlier).
ONGC Share Price Target - Broker Reports - 2019
Geojit Financial Services
Price @ Call: 129
4-Dec-19
Target: 137
HOLD
Prabhudas Lilladher
Price @ Call: 136.65
15-Nov-19
Target: 230
BUY
We tweak our estimates for FY20/21E and reiterate our positive stance on ONGC as we expect crude oil prices are likely to remain range bound at current levels, which will alleviate the need for subsidies. Also, outlook on production growth has improved. However, ONGC stock has underperformed the broader index due to concerns on divestment of Government of India share and inefficient capital allocation policies. Price target remains unchanged at Rs230.
HDFC Securities
Price @ Call: 128.15
19-Aug-19
Target: 184
BUY
Upstream companies were out of flavor despite realising market price for crude oil, mainly on account of the subsidy sharing with OMCs. We expect oil prices to remain muted owing to the robust supply from US Shale. This is despite production cuts from OPEC and non-OPEC countries. Thus, there is no concern over the subsidy sharing. ONGC will generate OCF yield of almost 28% and divided yield of ~6.3% over FY20/21E. The current valuations are contextually lower at 5.5x FY21 PER (ex-OVL and other investments). Our TP is Rs 184/sh (8x Jun-21E standalone core EPS (adj. for dividend income), + OVL EPS and Rs 32 from other investments).
ICICIdirect.com
Price @ Call: 171.23
4-Jun-19
Target: 180
HOLD
Valuation & Outlook: The movement in oil prices and subsidy sharing will decide ONGC’s performance, going ahead. We assume nil subsidy burden due to decline in oil prices and the new government. We model oil prices of US$65/bbl for FY20E and FY21E, given the current oil market scenario. However, due to lower growth on a sustainable basis, in spite of lower valuation, we have a HOLD rating on the stock at current levels with a target price of | 180/share (core business at | 143/share & investments at | 37share).
HDFC Securities
Price @ Call: 172.3
4-Jun-19
Target: 191
BUY
At attractive valuation. Concerns over lack of crude oil production growth still persist. However, we expect re-rating of ONGC as fears of subsidy burden have allayed. Adjusting for its investments (OVL+ other) the stock is trading at 6.8x FY21E standalone EPS. This indicates strong pessimism and we expect re-rating of upstream companies. Maintain BUY.
Upstream companies were out of flavour despite realizing market price for crude oil, mainly on account of lower provisioning of budgetary support in FY19 (Rs 248bn). The subsidy sharing concern allayed when the Govt. committed to settle Rs 430bn of subsidy from its own pocket. We do not foresee any subsidy sharing burden on upstream companies if crude oil prices remain below USD80/bbl. In the absence of overhang of subsidy sharing, upstream companies should be re-rated. Our TP is Rs 191/sh (8x Mar-21E standalone core EPS (adj. for dividend income), + OVL EPS and Rs 39 from other investments).
Upstream companies were out of flavour despite realizing market price for crude oil, mainly on account of lower provisioning of budgetary support in FY19 (Rs 248bn). The subsidy sharing concern allayed when the Govt. committed to settle Rs 430bn of subsidy from its own pocket. We do not foresee any subsidy sharing burden on upstream companies if crude oil prices remain below USD80/bbl. In the absence of overhang of subsidy sharing, upstream companies should be re-rated. Our TP is Rs 191/sh (8x Mar-21E standalone core EPS (adj. for dividend income), + OVL EPS and Rs 39 from other investments).
Prabhudas Lilladher
Price @ Call: 170.45
31-May-19
Target: 223
BUY
We maintain our estimates for FY20/21E as we maintain net realization at US$60/bbl. We reiterate our positive stance on ONGC as we expect crude oil prices to remain range bound at current levels, which will alleviate the need for subsidies. Also, outlook on production growth has improved. However, ONGC stock has underperformed the broader index due to concerns on divestment of Government of India share and inefficient capital allocation policies. Price target remains unchanged at Rs223.
Motilal Oswal
Price @ Call: 157.05
29-Mar-19
Target: 196
BUY
We marginally revise our estimates to take into account (a) change in the exchange rate assumptions and (b) change in production assumptions. The stock is trading at 5.3x FY21E consolidated EPS of INR29.6. We move our valuation from Dec’20 to FY21. Valuing the company at 8x standalone EPS (excluding other income) and adding the value of investments, we reiterate our Buy rating with a target price of INR196 (earlier: INR182).
Antique Stock Broking
Price @ Call: 152.15
15-Mar-19
Target: 205
BUY
ICICIdirect.com
Price @ Call: 142.21
20-Feb-19
Target: 153
BUY
The movement in oil prices and government’s decision on subsidy sharing will decide ONGC’s performance, going ahead. We have assumed that nil subsidy burden due to decline in oil prices and increased oil subsidy allocation in budget. We model crude oil prices of US$ 65/bbl for rest of FY19E and FY20E, given the current oil market scenario. and have built in net realisations of US$ 64.5/barrel for FY20E. However, given the election year uncertainty, inspite lower valuation, we have a HOLD rating on the stock at the current levels with a target price of Rs 153/share on an EPS of Rs 22 for FY20E.
HDFC Securities
Price @ Call: 135.1
18-Feb-19
Target: 184
BUY
Strong shale oil supplies from USA will provide a cap on crude prices. However, the supply cut by OPEC and non-OPEC countries (excluding USA), will provide strength to crude prices in the near future. Without subsidy sharing with OMCs, the domestic E&P companies remain a play purely on crude oil prices. Our TP is Rs 184/sh (8x Dec-19E standalone + OVL EPS and Rs. 31 from investments). Maintain BUY.
Motilal Oswal
Price @ Call: 135.1
18-Feb-19
Target: 182
BUY
We have revised crude oil production; lower by ~1.2mmt (inc. JVs) for FY20/21E, to factor in expected delays in project executions. Gas production is expected to grow ~5-6% in FY20/21. Our assumption is conservative compared to the guidance of the company. 9MFY19standaloneEBITDA/PATstandsatINR471b/INR227bup+43% YoY/+62% YoY. We estimate FY19 standalone EPS of INR22.9 and conso EPS of INR26.9 down from 29.6 to reflect adjustment in costs as well as production. We also cut FY20 and FY21 conso EPS estimates by ~10% to reflect lower estimate of production. The stock is trading at 4.4x FY20E consolidated EPS of INR30.3. We value the standalone segment at 8.0x Dec’20 EPS (adjusted for other income) of INR19.2 and add value of investments to arrive at a target price of INR182/share. Reiterate Buy.
Prabhudas Lilladher
Price @ Call: 132.1
15-Feb-19
Target: 223
BUY
We increase our FY19 earnings to factor in higher realization in the absence of any subsidy burden, in line with 9MFY19 trend. Nevertheless, for FY20/21E we maintain net realization at US$60/bbl, we also tweak our FY21E gas volume assumptions. We reiterate our positive stance on ONGC, following significant improvement in crude oil price and gas outlook along with better visibility on production growth. However, ONGC stock has underperformed the broader index due to concerns on subsidy payout on the back of higher crude oil prices and divestment in Government of India share. Price target remains unchanged at Rs223.
ONGC Share Price Target - Broker Reports - 2018
Kotak Securities
Price @ Call: 148.35
18-Dec-18
Target: 190
BUY
Motilal Oswal
Price @ Call: 156.04
6-Nov-18
Target: 208
BUY
HDFC Securities
Price @ Call: 157.96
5-Nov-18
Target: 182
BUY
HDFC Securities
Price @ Call: 167.84
3-Aug-18
Target: 275
BUY
ICICIdirect.com
Price @ Call: 166
3-Aug-18
Target: 180
HOLD
Edelweiss
Price @ Call: 166
3-Aug-18
Target: 206
BUY
Motilal Oswal
Price @ Call: 166
3-Aug-18
Target: 219
BUY
Prabhudas Lilladher
Price @ Call: 166
3-Aug-18
Target: 223
BUY
Edelweiss
Price @ Call: 177.81
31-May-18
Target: 235
BUY
Motilal Oswal
Price @ Call: 173.95
31-May-18
Target: 218
BUY
Prabhudas Lilladher
Price @ Call: 173.95
31-May-18
Target: 257
BUY
HDFC Securities
Price @ Call: 187.75
12-Feb-18
Target: 290
BUY
Edelweiss
Price @ Call: 187.75
12-Feb-18
Target: 239
BUY
Motilal Oswal
Price @ Call: 187.46
9-Feb-18
Target: 230
BUY
Sharekhan
Price @ Call: 197.1
17-Jan-18
Target: 221
BUY
ONGC Share Price Target - Broker Reports - 2017
Motilal Oswal
Price @ Call: 191.7
22-Dec-17
Target: 227
BUY
Edelweiss
Price @ Call: 180.63
30-Nov-17
Target: 241
BUY
Axis Direct
Price @ Call: 191.35
6-Nov-17
Target: 215
BUY
Edelweiss
Price @ Call: 186.65
31-Oct-17
Target: 228
BUY
Motilal Oswal
Price @ Call: 186.65
31-Oct-17
Target: 231
BUY
Geojit Financial Services
Price @ Call: 172.05
29-Sep-17
Target: 198
BUY
Choice Equity Broking
Price @ Call: 166.9
18-Sep-17
Target: 192
BUY
Axis Direct
Price @ Call: 165.71
2-Aug-17
Target: 200
BUY
Edelweiss
Price @ Call: 163
27-Jul-17
Target: 201
BUY
Edelweiss
Price @ Call: 159
3-Jul-17
Target: 202
BUY
Motilal Oswal
Price @ Call: 158
30-Jun-17
Target: 195
BUY
Edelweiss
Price @ Call: 179
30-May-17
Target: 212
BUY
ICICIdirect.com
Price @ Call: 179
31-May-17
Target: 195
HOLD
Motilal Oswal
Price @ Call: 183
8-May-17
Target: 233
BUY
Geojit Financial Services
Price @ Call: 196
23-Feb-17
Target: 217
BUY
Axis Direct
Price @ Call: 202
7-Feb-17
Target: 210
HOLD
ICICIdirect.com
Price @ Call: 201
3-Feb-17
Target: 215
HOLD
Edelweiss
Price @ Call: 203
31-Jan-17
Target: 236
BUY
HDFC Securities
Price @ Call: 203
1-Feb-17
Target: 220
BUY
ONGC Share Price Target - Broker Reports - 2016
KRChoksey
Price @ Call: 142.67
30-May-16
Target: 174.67
BUY
IIFL
Price @ Call: 191.55
30-Dec-16
Target: 230
BUY
Kotak Securities
Price @ Call: 190.25
26-Dec-16
Target: 180
SELL
Axis Direct
Price @ Call: 190.91
1-Nov-16
Target: 166.67
SELL
Edelweiss
Price @ Call: 166.67
19-Sep-16
Target: 192
BUY
Motilal Oswal
Price @ Call: 163.33
8-Sep-16
Target: 188
BUY
JM Financial
Price @ Call: 167.47
12-Sep-16
Target: 186.67
BUY
Centrum
Price @ Call: 170.27
9-Sep-16
Target: 190
BUY
Edelweiss
Price @ Call: 163.33
7-Sep-16
Target: 192
BUY
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ONGC Peer Stocks - Share Price Targets
SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
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