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ONGC Share Price Target

Oil And Natural Gas Corporation Ltd.
Sector: Petroleum
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ONGC Share Price *
126.9 -2 (-1.55%)
* (quote may be delayed)
ONGC Share Price Forecast - Consensus
No. of reports in last year
13
No. of analysts
7
Average Consensus Forecast
190.62
Consensus Potential
31.04%

ONGC Share Price Target - Broker Reports - 2019

Geojit Financial Services
4-Dec-19
Price @ Call: 129
Target: 137
HOLD

Prabhudas Lilladher
15-Nov-19
Price @ Call: 136.65
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.
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HDFC Securities
19-Aug-19
Price @ Call: 128.15
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).
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HDFC Securities
4-Jun-19
Price @ Call: 172.3
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).
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ICICIdirect.com
4-Jun-19
Price @ Call: 171.23
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).
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Prabhudas Lilladher
31-May-19
Price @ Call: 170.45
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.
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Motilal Oswal
29-Mar-19
Price @ Call: 157.05
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).
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Antique Stock Broking
15-Mar-19
Price @ Call: 152.15
Target: 205
BUY

ICICIdirect.com
20-Feb-19
Price @ Call: 142.21
Target: 153
BUY

HDFC Securities
18-Feb-19
Price @ Call: 135.1
Target: 184
BUY

Motilal Oswal
18-Feb-19
Price @ Call: 135.1
Target: 182
BUY

Prabhudas Lilladher
15-Feb-19
Price @ Call: 132.1
Target: 223
BUY

ONGC Share Price Target - Broker Reports - 2018

Kotak Securities
18-Dec-18
Price @ Call: 148.35
Target: 190
BUY

Motilal Oswal
6-Nov-18
Price @ Call: 156.04
Target: 208
BUY

HDFC Securities
5-Nov-18
Price @ Call: 157.96
Target: 182
BUY

Prabhudas Lilladher
3-Aug-18
Price @ Call: 166
Target: 223
BUY

Motilal Oswal
3-Aug-18
Price @ Call: 166
Target: 219
BUY

Edelweiss
3-Aug-18
Price @ Call: 166
Target: 206
BUY

ICICIdirect.com
3-Aug-18
Price @ Call: 166
Target: 180
HOLD

HDFC Securities
3-Aug-18
Price @ Call: 167.84
Target: 275
BUY

Prabhudas Lilladher
31-May-18
Price @ Call: 173.95
Target: 257
BUY

Motilal Oswal
31-May-18
Price @ Call: 173.95
Target: 218
BUY

Edelweiss
31-May-18
Price @ Call: 177.81
Target: 235
BUY

Edelweiss
12-Feb-18
Price @ Call: 187.75
Target: 239
BUY

HDFC Securities
12-Feb-18
Price @ Call: 187.75
Target: 290
BUY

Motilal Oswal
9-Feb-18
Price @ Call: 187.46
Target: 230
BUY

Sharekhan
17-Jan-18
Price @ Call: 197.1
Target: 221
BUY

ONGC Share Price Target - Broker Reports - 2017

Motilal Oswal
22-Dec-17
Price @ Call: 191.7
Target: 227
BUY

Edelweiss
30-Nov-17
Price @ Call: 180.63
Target: 241
BUY

Axis Direct
6-Nov-17
Price @ Call: 191.35
Target: 215
BUY

Motilal Oswal
31-Oct-17
Price @ Call: 186.65
Target: 231
BUY

Edelweiss
31-Oct-17
Price @ Call: 186.65
Target: 228
BUY

Geojit Financial Services
29-Sep-17
Price @ Call: 172.05
Target: 198
BUY

Choice Equity Broking
18-Sep-17
Price @ Call: 166.9
Target: 192
BUY

Axis Direct
2-Aug-17
Price @ Call: 165.71
Target: 200
BUY

Edelweiss
27-Jul-17
Price @ Call: 163
Target: 201
BUY

Edelweiss
3-Jul-17
Price @ Call: 159
Target: 202
BUY

Motilal Oswal
30-Jun-17
Price @ Call: 158
Target: 195
BUY

ICICIdirect.com
31-May-17
Price @ Call: 179
Target: 195
HOLD

Edelweiss
30-May-17
Price @ Call: 179
Target: 212
BUY

Motilal Oswal
8-May-17
Price @ Call: 183
Target: 233
BUY

Geojit Financial Services
23-Feb-17
Price @ Call: 196
Target: 217
BUY

Axis Direct
7-Feb-17
Price @ Call: 202
Target: 210
HOLD

ICICIdirect.com
3-Feb-17
Price @ Call: 201
Target: 215
HOLD

HDFC Securities
1-Feb-17
Price @ Call: 203
Target: 220
BUY

Edelweiss
31-Jan-17
Price @ Call: 203
Target: 236
BUY

ONGC Share Price Target - Broker Reports - 2016

IIFL
30-Dec-16
Price @ Call: 191.55
Target: 230
BUY

Kotak Securities
26-Dec-16
Price @ Call: 190.25
Target: 180
SELL

Axis Direct
1-Nov-16
Price @ Call: 190.91
Target: 166.67
SELL

Edelweiss
19-Sep-16
Price @ Call: 166.67
Target: 192
BUY

JM Financial
12-Sep-16
Price @ Call: 167.47
Target: 186.67
BUY

Centrum
9-Sep-16
Price @ Call: 170.27
Target: 190
BUY

Motilal Oswal
8-Sep-16
Price @ Call: 163.33
Target: 188
BUY

Edelweiss
7-Sep-16
Price @ Call: 163.33
Target: 192
BUY

KRChoksey
30-May-16
Price @ Call: 142.67
Target: 174.67
BUY

  • ONGC - Share Price Target Potential

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    BrokerageTargetPotential
    Geojit Financial Services1375.91%
    Prabhudas Lilladher23043.96%
    HDFC Securities18429.95%
    ICICIdirect.com18028.39%
    Motilal Oswal19634.23%