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ONGC Share Price Target for 2024, 2025, 2030, and 2040

ONGC Share Price Target for 2024, 2025, 2030, and 2040

ONGC Share Price Target: This article is about the ONGC share price forecast for the upcoming years. We will analyze the estimated stock price of the company so that you can make a better decision about investing in it. Before we look into the company’s share price forecast, let us first understand the company’s background, financials, technical fundamentals, etc.

ONGC Limited: An Overview

Oil and Natural Gas Corporation Limited (ONGC) is a Maharatna-level central public sector undertaking of the Government of India. The company is the largest state-owned oil and gas explorer and producer in the country and produces about 70 percent of India’s domestic production of crude oil and about 84 percent of natural gas. It has also been given the status of the largest profit-making central public sector undertaking (PSU) in India. According to Platts, it is ranked 25th out of the top 250 global energy businesses.

Company NameONGC Limited
IndustryEnergy: Oil and gas
Founded1956
CountryIndia
Official Websitewww.ongcindia.com

Key Metrics

Market Cap (₹)2,36,194 Crore
Sectoral Market Cap Rank1
PE Ratio (x)6.28
Price to Book Ratio (x)0.78
EPS – TTM (₹)29.92
Dividend Yield (%)5.99
Stock – 52 Week High & Low (₹)191.70 / 121.50

Highlights of the ONGC Limited share price forecast are shown in the table below.

YearMinimum PriceMaximum Price
2023₹ 195
2024₹ 193₹ 220
2025₹ 216₹ 250
2026₹ 240₹ 270
2027₹ 260₹ 300
2028₹ 285₹ 340
2029₹ 320₹ 390
2030₹ 360₹ 430
2040₹ 1,340₹ 1,430

Important Note: These price predictions of “ONGC Limited” are only for reference purposes only, short-term and long-term ONGC stock price predictions may be different due to the other analyzed time series. This prediction is only if there are positive market sentiments, and this analysis does not cover any uncertainties in the company or global market condition. 

Future Growth of ONGC Limited

Earnings and Revenue Growth Forecasts of the Company

According to our growth forecast, ONGC Limited’s earnings and revenue will grow by 6.6% and 0.6% per year, respectively. EPS is expected to grow by 6.8%. 

Key Information

Forecasted Earnings Growth Rate6.60%
Forecasted EPS Growth Rate6.80%
Forecasted Revenue Growth Rate0.60%
Forecasted Return on Equity14.90%

Analysis of the future growth forecast of the company

✅ Company’s Earnings vs. Market: As per our forecast, the company’s earnings will grow less than the market’s earnings, as also depicted in the chart. The company’s earnings will grow at a rate of 6.6% per year, while the market will grow at a rate of 15.80%.

Company Revenue vs. Market: As per our forecast, the company’s revenue will grow less than the market’s revenue, as also depicted in the chart. The company’s revenue will grow 0.60% per year, while the market will grow 8.60%.

High Growth Revenue: The company’s revenue is forecast to grow but not significantly.

Forecast Return on Equity (ROE)

✅ Estimated ROE will be 14.90%. 

Past Performance of ONGC Limited

Earnings and Revenue History of the Company

✅ When we analyze ONGC Limited’s past earnings and revenue, its earnings growth rate was -22.15%. The company’s revenue growth rate was 28.41% per year, and its net profit margin was 5.60%, which is lower than its previous year (9.26%).

Key Information

Earnings Growth Rate-22.15%
EPS Growth Rate-22.16%
Revenue Growth Rate28.41%
Return on Equity12.62%

Past earnings growth analysis of the company

Earnings Trend: ONGC has become profitable over the past 5 years, growing average earnings by 20% per year.

Accelerating Growth: The company has had negative earnings growth over the past year, so it can’t be compared to its 5-year average.

Return on Equity (ROE)

❎ ONGC’s return on equity was 12.62%.

Return on Assets (ROA)

❎ The company had a ROA of 5.76%.

Return on Capital Employed (ROCE)

✅ Last year, the company had an ROCE of 12.24%. 

(All figures are from the consolidated financial statement) 

The financial health of ONGC Limited

The financial position of the company

Short-term liabilities: The short-term assets of ONGC Limited are more than its short-term liabilities. Which is good.

Long-term liabilities: The short-term assets of ONGC Limited exceed its long-term liabilities. 

Debt analysis

Debt Level: ONGC Limited’s debt-to-equity ratio is 0.03%.

Debt coverage: ONGC Limited’s debt is well covered by operating cash flows, 

Interest coverage: ONGC Limited’s interest on debt is well covered by EBIT (11.07x coverage).

Dividend

Dividend Paying Company: With an earnings-covering current yield of 6.31%, ONGC Limited is a dividend-paying company.

Growing Dividend: When we analyze the past payout dividend of ONGC Limited, it is paying a notable dividend.

ONGC Limited’s stock forecast for the upcoming years

ONGC Share Price Target for 2023

YearMinimum PriceMaximum Price
2023₹ 195

ONGC Share Price Target for 2024

YearMinimum PriceMaximum Price
2024₹ 193₹ 220

ONGC Share Price Target for 2025

YearMinimum PriceMaximum Price
2025₹ 216₹ 250

ONGC Share Price Target for 2026

YearMinimum PriceMaximum Price
2026₹ 240₹ 270

ONGC Share Price Target for 2027

YearMinimum PriceMaximum Price
2027₹ 260₹ 300

ONGC Share Price Target for 2028

YearMinimum PriceMaximum Price
2028₹ 285₹ 340

ONGC Share Price Target for 2029

YearMinimum PriceMaximum Price
2029₹ 320₹ 390

ONGC Share Price Target for 2030

YearMinimum PriceMaximum Price
2030₹ 360₹ 430

ONGC Share Price Target for 2040

YearMinimum PriceMaximum Price
2040₹ 1,340₹ 1,430

Recommendations: Invest in ONGC Limited stock or sell it.

Our forecasted stock analyst implies that there will be a positive trend in the future and that ONGC Limited shares might be good for investing to make money. If you are good with personal finance and are looking to invest, you can invest in this stock.

FAQs

With a dividend yield of 5.99%, ONGC remains one of the strongest and highest dividend-paying companies in terms of dividend payout. The dividend yield for ONGC is 6.31% per share.
ONGC issued an interim dividend of ₹ 4 per share in February this year. Along with this, an interim dividend of ₹ 6.75 was distributed in November 2022. The company distributed ₹ 3.25 dividend and ₹ 1.75 interim dividend in August and February of the same year.
The company (ONGC) paid a dividend of ₹ 9.10 in 2021 and ₹ 5 in 2020.

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