Will the Oil And Natural Gas share price run continue?
In this article we will quickly re-cap the broker forecasts for Oil And Natural Gas (NSI:ONGC).
The Oil And Natural Gas share price has risen by 42.4% over the past month and it’s currently trading at 98.65. For investors considering whether to buy, hold or sell the stock, the question now is whether this price run will continue.
According to the company’s analysts, there are certainly reasons to think it will continue to perform well in the year ahead. In terms of trading recommendations, Oil And Natural Gas currently has:
- 13 Buy recommendations
- 5 Hold recommendations
- 3 Sell recommendations
This suggests that analysts are generally positive about the outlook.
Questioning broker positivity
At its current price of 98.65, shares in Oil And Natural Gas are trading at a discount of -23.9% to its 52 week high price. The 1-year performance of the shares has been -18.9%.
While analyst forecasts can be a useful guide to what City 'experts' think about a stock's near term future, they can be unreliable. To get a better idea about the strengths and weaknesses of Oil and Natural Gas it's worth doing some investigation yourself. Indeed, we've identified some areas of concern with Oil and Natural Gas that you can find out about here.
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