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ONGC Share Price Target

Oil & Natural Gas Corporation Ltd.
NSE: ONGC | BSE: 500312 | ISIN: INE213A01029 | Sector: Petroleum

ONGC Rating

4.6/5 (11 Ratings)
ONGC Share Price *
69.7 +3.95 (6.01%)
* (quote may be delayed)

7 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.


You can also find ONGC share price target tomorrow or next week from ONGC discussion forum.

ONGC Share Price Forecast - Consensus
No. of reports in last year
7
No. of analysts
4
Average Consensus Forecast
187.43
Consensus Potential
63.98%

ONGC Share Price Target - Broker Reports - 2020

17-Feb-20
Price @ Call: 103.25
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).
... Read more

ONGC Share Price Target - Broker Reports - 2019

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

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.
... Read more

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).
... Read more

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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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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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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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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15-Mar-19
Price @ Call: 152.15
Target: 205
BUY

20-Feb-19
Price @ Call: 142.21
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.
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18-Feb-19
Price @ Call: 135.1
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.
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18-Feb-19
Price @ Call: 135.1
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.
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15-Feb-19
Price @ Call: 132.1
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.
... Read more

ONGC Share Price Target - Broker Reports - 2018

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

ONGC Share Price Target - Broker Reports - 2017

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

ONGC Share Price Target - Broker Reports - 2016

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

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

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

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

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

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

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

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

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

  • ONGC - Share Price Target Potential

    keyboard_arrow_down
    BrokerageTargetPotential
    Prabhudas Lilladher16760.63%
    Geojit Financial Services13752.01%
    HDFC Securities18464.27%
    ICICIdirect.com18063.47%
  • ONGC Share Price Target Today- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 376.23
    Upside Target 273.62
    Upside Target 171.73
    Pivot69.12
    Downside Target 167.23
    Downside Target 264.62
    Downside Target 362.73
  • ONGC Share Price Target weekly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 384.77
    Upside Target 277.88
    Upside Target 173.87
    Pivot66.98
    Downside Target 162.97
    Downside Target 256.08
    Downside Target 352.07
  • ONGC Share Price Target monthly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3137.03
    Upside Target 2115.97
    Upside Target 192.13
    Pivot71.07
    Downside Target 147.23
    Downside Target 226.17
    Downside Target 32.33
  • ONGC Share Price Target today- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 373.62
    Upside Target 271.9
    Upside Target 170.84
    Pivot69.12
    Downside Target 167.4
    Downside Target 266.34
    Downside Target 364.62
  • ONGC Share Price Target weekly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 377.88
    Upside Target 273.72
    Upside Target 171.15
    Pivot66.98
    Downside Target 162.82
    Downside Target 260.25
    Downside Target 356.08
  • ONGC Share Price Target monthly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3115.97
    Upside Target 298.81
    Upside Target 188.22
    Pivot71.07
    Downside Target 153.91
    Downside Target 243.32
    Downside Target 326.17
SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
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