One of the top exploration and production firms in India is Oil and Natural Gas Company (ONGC). The business is well-established in the upstream oil and gas industry and has significantly aided India’s energy security. As a result, traders, analysts, and investors have always been quite interested in the share price of ONGC.
The Oil and Natural Gas Corporation (ONGC), India’s leading upstream oil and gas company, is considering partnerships with foreign oil corporations to enhance its upstream operations and increase production. Investors are evaluating whether investing in ONGC is a wise choice, as the company’s performance remains in the spotlight. This article examines the current state of the business, its growth prospects, and provides a share price forecast for ONGC from 2023 to 2030.
We shall examine ONGC’s share price target from 2023 to 2030 in this article. To accurately anticipate the company’s future success, we will examine its financial performance, growth potential, and market trends. We will also look at the macroeconomic variables and governmental regulations that could have an impact on ONGC’s activities and, consequently, its share price.
OIL AND NATURAL GAS CORPORATION LIMITED IN RECENT NEWS
- ONGC has recently become the first public sector undertaking (PSU) in India to achieve certification for its Anti-Bribery Management System. This accomplishment signifies ONGC’s strong dedication to maintaining ethical standards, promoting transparency, and fostering a culture rooted in integrity.
- As per sources familiar with the matter, ONGC Videsh Ltd (OVL) has emerged victorious in a prolonged legal dispute against Sudan, securing arbitration rulings amounting to $190 million. The dispute primarily revolved around outstanding payments related to oil and a pipeline.
- During its inaugural deep-sea operation in the KG basin, the Oil and Natural Gas Corporation (ONGC), a state-owned company, encountered an obstacle when a floating oil storage vessel became entangled in fishing nets. As a result, ONGC had to seek assistance from the Indian Navy to resolve the situation.
- Over the past three years, investors in Oil and Natural Gas Corporation (NSE:ONGC) have witnessed impressive returns of 154%, indicating strong performance in their investments.
HOW TO BUY ONGC SHARE PRICE:
You have several trading platforms available to purchase shares of Oil and Natural Gas Corporation (ONGC). Some of the platforms you can consider are:
These platforms provide online trading services and offer convenient ways to invest in ONGC and other securities. It’s advisable to research and compare the features, fees, and user reviews of each platform before choosing the one that best suits your investment needs.
ONGC SHARE PRICE TARGET 2023
|ONGC SHARE PRICE TARGET 2023||Maximum Price||Minimum Price|
ONGC’s share price has been on an upward trend throughout 2023, with a bullish outlook predicted for the remainder of the year. The company’s share price is expected to continue to rise, with an estimated growth percentage of up to 131.67% from the minimum price of ₹180.40 in July 2023 to the maximum price of ₹225.71 in December 2023. This upward trend is primarily attributed to several positive developments, including the reduction of windfall tax by the government, increased investor confidence, and improved financial performance. Based on the predicted share price movements, it is evident that ONGC is poised for a strong performance in 2023, which is likely to make it an attractive investment option for investors looking to capitalize on the growth potential of the oil and gas sector.
ONGC SHARE PRICE TARGET 2024
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The year 2024 is expected to witness a mixed trend in ONGC’s share price, with the stock experiencing both highs and lows. From the minimum price of ₹202.20 in May 2024, the stock price is anticipated to reach a maximum price of ₹293.37 in January 2024, representing a significant growth percentage of up to 411.28%. However, the share price is expected to dip again in the following months, reaching a minimum price of ₹207.85 in July 2024. Despite these fluctuations, the overall trend for ONGC’s share price in 2024 is expected to be on an upward trajectory, with an estimated growth percentage of up to 161.67% from the minimum price to the maximum price. The factors contributing to this growth include the company’s strong financial performance, the expected increase in oil prices, and the government’s focus on energy security. Investors looking to invest in ONGC in 2024 should be mindful of the potential risks associated with the stock’s volatility, but also consider the stock’s long-term growth potential.
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ONGC SHARE PRICE TARGET 2025
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ONGC’s share price in 2025 is expected to continue its upward trajectory, with the stock reaching a maximum price of ₹473.32 and a minimum price of ₹274.66. From the minimum price in May 2025, the stock is predicted to rise by up to 72.53% to reach a maximum price of ₹473.32 in December 2025. The growth percentage from the minimum price to the maximum price is expected to be significant, indicating a bullish trend in ONGC’s stock in 2025. The company’s strong financial performance, positive outlook for the oil and gas sector, and favorable government policies are expected to contribute to this growth. However, investors should remain cautious of the potential risks associated with the stock’s volatility, as well as external factors such as geopolitical tensions and global economic conditions that could impact the industry as a whole. Overall, the outlook for ONGC’s share price in 2025 appears promising, with the stock expected to offer growth potential for investors looking to invest in the energy sector.
ONGC SHARE PRICE TARGET 2026 TO 2030
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Looking at the ONGC share price target for the years 2026 to 2030, we can see a mixed trend in the prices. In 2026, the maximum and minimum prices are expected to be around ₹331.32 and ₹231.93 respectively. In 2027, the prices are expected to decline further, with the maximum and minimum prices estimated to be around ₹281.62 and ₹197.14 respectively. However, in the following years, the prices are expected to bounce back with a bullish trend. In 2028, the maximum and minimum prices are estimated to be around ₹506.92 and ₹354.85 respectively, while in 2029, they are expected to be around ₹1,041.30 and ₹728.91 respectively. The prices are expected to continue rising in 2030, with the maximum and minimum prices estimated to be around ₹1,159.63 and ₹811.74 respectively.
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FINANCIAL STRENGTH OF ONGC (2019 TO 2023)
|Year||Mar 2019||Mar 2020||Mar 2021||Mar 2022||Mar 2023|
|Profit before tax||54,846||18,962||30,126||54,091||43,051|
|EPS in Rs||24.28||8.59||12.96||36.19||28.17|
|Dividend Payout %||29%||58%||28%||29%||40%|
Over the past five years, Oil and Natural Gas Corporation (ONGC) has experienced fluctuations in its financial performance. The company’s sales figures varied, reaching a peak of 684,829 Rs in March 2023 and a low of 303,849 Rs in March 2021. Despite these fluctuations, ONGC’s expenses showed a general upward trend, with costs reaching 609,302 Rs in March 2023.
ONGC’s operating profit had its highest point at 79,874 Rs in March 2022, indicating a positive trend. However, it slightly declined to 75,527 Rs in March 2023. The operating profit margin percentage (OPM %) fluctuated between 11% and 18% over the period, reflecting variations in profitability.
Other income, which includes investments or non-operating revenue, was inconsistent for ONGC. While it reached a peak of 12,724 Rs in March 2017, it experienced a negative value of -30 Rs in March 2023. Interest expenses remained relatively stable, ranging from 5,079 Rs in March 2021 to 7,889 Rs in March 2023.
Depreciation costs increased gradually for ONGC, with the highest recorded at 26,883 Rs in March 2022. Profit before tax showed fluctuations, with the highest recorded at 54,846 Rs in March 2019 and a decrease to 43,051 Rs in March 2023. The tax percentage paid by ONGC varied, with the lowest at 9% in March 2022 and the highest at 40% in March 2020.
ONGC’s net profit experienced fluctuations, with the highest recorded at 49,294 Rs in March 2022 and a decline to 32,778 Rs in March 2023. Earnings per share (EPS) ranged from 8.59 Rs in March 2020 to 36.19 Rs in March 2022. The dividend payout percentage varied between 28% and 58% over the years, reflecting the company’s distribution of profits to shareholders.
Overall, the financial data highlights the variability in ONGC’s performance, with fluctuations in sales, profitability, expenses, and dividend payouts. These figures provide insights into the company’s financial trends and can aid investors and stakeholders in assessing ONGC’s financial health and stability.
OIL AND NATURAL GAS CORPORATION LIMITED SHARE PRICE TARGET BY EXPERTS:
- Emkay Global Financial’s Target for the Share Price of Oil and Natural Gas Corporation:
Emkay Global Financial has assigned a “buy” rating to Oil and Natural Gas Corporation (ONGC) and set a target price of Rs 200.
- Sharekhan’s Target for the Share Price of Oil and Natural Gas Corporation:
Sharekhan has recommended a “Hold” rating on Oil and Natural Gas Corporation (ONGC) and provided a target price of Rs. 165.
- JM Financial’s Target for the Share Price of Oil and Natural Gas Corporation:
JM Financial has given a “buy” rating to Oil and Natural Gas Corporation (ONGC) and projected a target price of Rs 220.
- Motilal Oswal’s Target for the Share Price of Oil and Natural Gas Corporation:
Motilal Oswal suggests buying ONGC and expects the share price to reach Rs 198.
POINTS TO KEEP IN MIND WHILE INVESTING IN ONGC SHARE PRICE:
- Stock is trading at 0.76 times its book value
- Stock is providing a good dividend yield of 6.35%.
- Company is expected to give good quarter
- Company has been maintaining a healthy dividend payout of 32.2%
- Contingent liabilities of Rs.76,693 Cr.
The maximum share price target of ONGC in 2026 is ₹473.32
The maximum share price target of ONGC in 2027 is Rs. 281.62
The maximum share price target of ONGC in 2028 is Rs. 506.92
The maximum share price target of ONGC in 2029 is Rs. 1041.30
The maximum share price target of ONGC in 2030 is Rs. 1159.63
CONCLUSION: OIL AND NATURAL GAS CORPORATION LIMITED
According to ONGC’s financial accounts for the previous five years, the firm has demonstrated constant revenue growth, albeit with minor swings in between. The company’s PAT has also experienced tremendous increase, particularly during the past two years. The earnings growth, however, has fluctuated over time. Overall, it appears that the company’s financial performance is stable, making it a solid choice for investors wishing to make long-term investments in the energy industry. Before making any investment decisions, it is advised that potential investors conduct their own research and analysis.
Suhani Bhat, a student of Hansraj college, is a finance writer who takes deep interest in stock market, mutual funds, and other financial news. She writes for multiple finance blogs, including Financegradeup.com. Other than English, she also speaks Hindi.