Stock Analysis | Oneok Outlook - A Weak Technical Picture Amid Mixed Analyst and Fund-Flow Signals

Market Snapshot

Oneok (OKE) is under pressure technically with a weak score of 3.14 (internal diagnostic score, 0-10), while recent news and mixed analyst activity keep the stock in a neutral to slightly positive zone. The price has risen 2.65% in the recent period, but bearish technical signals dominate.

News Highlights

Recent global news highlights energy-sector shifts, with several key developments:

• Colombia’s E&P investment is set to rise by 8% in 2025, which could indirectly benefit gas infrastructure plays like Oneok as regional energy demand grows.
• President Tinubu of Nigeria announced new incentives for the oil sector, including tax credits and cost savings, potentially setting a broader trend for energy investment in emerging markets.
• Private equity activity in fossil fuels is on the rise, with global exits in oil and gas hitting $18.54 billion in the first half of the year. This signals increased confidence in energy assets, which may provide Oneok with a supportive macro backdrop.

Analyst Views & Fundamentals

Analysts have provided a simple average rating of 3.50 and a weighted performance-based rating of 3.23, indicating a generally cautious stance. The ratings are consistent, with both Buy and Neutral calls observed within the last 20 days. However, these align only marginally with the current 2.65% price rise.

Key fundamental factors include:

• Price-to-Book (PB): 0.27, with a model score of 2.62 (internal diagnostic score, 0-10). This suggests undervaluation but with weak momentum.
• Return on Equity (ROE) adjusted PB: -66.29%, scoring 2.88, pointing to financial stress in this ratio.
• Asset-to-Market Value: 1.59, with a strong model score of 3.99, showing asset value has some positive backing.
• Revenue-to-Market Value: 1.60, scoring 3.39; this reflects a moderate revenue foundation.
• Inventory turnover days: 13.12 (internal diagnostic score 2.62), indicating efficient asset use.

Money-Flow Trends

Large and extra-large investors are pushing in a positive direction, with inflow ratios at 49.76% and 50.31%, respectively. Meanwhile, small and medium investors are still cautious, showing 47.53% and 49.65% inflow, but with negative overall trends. The fund-flow score is 7.94 (internal diagnostic score, 0-10), highlighting strong institutional confidence despite retail caution.

Key Technical Signals

The technical outlook for Oneok is weak, with 4 bearish indicators and 0 bullish ones in the last 5 days. Notable recent patterns include:

• WR Oversold on August 15 and 18, both with a score of 2.62 (internal diagnostic score, 0-10).
• MACD Golden Cross on August 25, scoring 3.08 — a neutral sign of potential reversal.
• WR Overbought on August 27, with a score of 2.88, suggesting short-term overvaluation.

These signals suggest a volatile market with no clear direction, and the bearish dominance makes it a risky proposition for near-term traders.

Conclusion

Given the weak technical score of 3.14 (internal diagnostic score, 0-10) and a cautious fundamental backdrop, it may be best to avoid initiating new positions in Oneok at this time. While institutional inflows are supportive, the stock lacks direction and faces bearish momentum. Investors are advised to monitor upcoming earnings and macro energy developments for potential catalysts or turning points.