3.6% Dividend Yield, ONGC Share Price Target 2024: PSU stock under Rs 300 gets BUY call
3.6% dividend yield, ongc share price target 2024: psu stock under rs 300 gets buy call
ONGC Share Price Target 2024: Oil and Natural Gas Corporation (ONGC) Limited stocks will be in focus on Monday, May 3, 2024, after brokerage firm Jefferies maintained its Buy recommendation on the PSU stock. The Maharatna finished the BSE trading session on Thursday (May 2, 2024) in negative territory. On Thursday, ONGC’s share price finished at Rs 282.65 on the BSE, down 0.20 points (0.07 percent) from the previous day. Over the course of 52 weeks, the PSU shares fluctuate between high of Rs 292.45 to the low of Rs 150.70.
ONGC Share Price Target 2024
Jefferies continues to maintain its BUY recommendation on ONGC. The brokrage firm has given target price of Rs 390 to PSU Maharatna. Jeffries has cited company’s increased profitability as a result of pricing changes. The third-quarter ramp-up of the KG basin is viewed as a critical driver, despit some doubts about the rise in output. Although the KG basin’s profitability remains a source of worry, higher revenue realisation is likely to balance growing operational expenses.
The Oil and Natural Gas Corporation Limited (ONGC) is a central public sector organisation owned by the Ministry of Petroleum and Natural Gas, Government of India.
ONGC Share Price History
ONGC is a constituent of the S&P BSE 100. According to BSE statistics (as of May 3, 2024), ONGC shares have climbed 0.21 percent and 3.04 percent during the previous week and two weeks, respectively. In the last month and three months, PSU shares have increased by 3.82 percent and 9.87 percent, respectively. On a year-to-date basis, the company’s shares rose 37.71 percent. ONGC’s shares have increased by 72.03 percent, 80.72 percent, 160.39 percent, 66.90 percent, and 28.76 percent during the last one, two, three, five, and ten years, respectively.
ONGC Dividend Yield
ONGC’s dividend yield was at 3.63% at the current market price of Rs 282.60, as of May 2.
ONGC Dividend History
ONGC promised has paid staggering 80% cash rewards to its shareholders in February 2024. The PSU company declared dividends of Rs 4, Re 0.5, and Rs 5.75 with ex-dates of February 24, August 18, and November 21, respectively, three times last year. Similar to this, in November, February, and August of 2022, the Maharatna announced dividend payments of Rs. 1.75, Rs. 3.25, and Rs. 6.75. On August 13, 2001, the firm declared its first dividend of Rs. 11, with an ex-date.
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