ONEOK Shares Fall Ahead of Earnings as Energy Sentiment Softens

ONEOK, Inc. (OKE) is down 3.1% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely explanation is a mix of weaker energy-sector sentiment and positioning ahead of ONEOK’s second-quarter 2026 earnings release, which was scheduled for after the market close on August 3, 2026. This could also reflect lingering caution after a recent analyst downgrade tied to concerns about future growth in the Bakken.

Details:

ONEOK had already told investors it would release second-quarter 2026 results after the market close on August 3, which can lead to risk reduction and profit-taking before the numbers arrive.

The company’s investor materials show its business remains heavily tied to natural gas, NGL, refined products, and crude oil volumes, so a sharp drop in oil prices can weigh on sentiment even though much of its earnings are fee-based.

Oil prices fell sharply at the start of the week as Middle East tensions appeared to ease, creating pressure across energy names and reducing some of the geopolitical premium that had supported the sector.

A mid-July analyst downgrade lowered expectations for the shares and highlighted concerns about the pace of growth in the Bakken, which may have added to the stock’s weakness going into earnings.

Sources:

ONEOK Investor Relations, AP News, Benzinga

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

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$OKE Hedge Fund Activity

We have seen 813 institutional investors add shares of $OKE stock to their portfolio, and 588 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

CAPITAL RESEARCH GLOBAL INVESTORS added 6,264,969 shares (+inf%) to their portfolio in Q1 2026, for an estimated $566,290,547
CAPITAL INTERNATIONAL INVESTORS added 5,137,226 shares (+64.4%) to their portfolio in Q1 2026, for an estimated $464,353,858
CHARLES SCHWAB INVESTMENT MANAGEMENT INC removed 4,265,890 shares (-18.8%) from their portfolio in Q1 2026, for an estimated $385,593,797
UBS GROUP AG added 3,919,173 shares (+44.6%) to their portfolio in Q1 2026, for an estimated $354,254,047
STATE STREET CORP added 3,123,790 shares (+8.1%) to their portfolio in Q1 2026, for an estimated $282,359,378
DEUTSCHE BANK AG\ added 2,563,035 shares (+61.4%) to their portfolio in Q1 2026, for an estimated $231,672,733
BLACKROCK, INC. added 2,230,014 shares (+3.9%) to their portfolio in Q1 2026, for an estimated $201,570,965

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$OKE Congressional Stock Trading

Members of Congress have traded $OKE stock 1 times in the past 6 months. Of those trades, 1 have been purchases and 0 have been sales.

Here’s a breakdown of recent trading of $OKE stock by members of Congress over the last 6 months:

REPRESENTATIVE GILBERT RAY CISNEROS, JR. purchased up to $15,000 on 02/10.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard. You can access data on congressional stock trades through the Quiver Quantitative API Congress trades endpoint.

$OKE Price Targets

Multiple analysts have issued price targets for $OKE recently. We have seen 10 analysts offer price targets for $OKE in the last 6 months, with a median target of $92.5.

Here are some recent targets:

Theresa Chen from Barclays set a target price of $88.0 on 07/08/2026
Jeremy Tonet from JP Morgan set a target price of $92.0 on 05/08/2026
Spiro Dounis from Citigroup set a target price of $97.0 on 05/07/2026
Gabe Daoud from Truist Securities set a target price of $93.0 on 05/04/2026
Michael Blum from Wells Fargo set a target price of $98.0 on 04/30/2026
Brandon Bingham from Scotiabank set a target price of $89.0 on 04/30/2026
Jason Gabelman from TD Cowen set a target price of $85.0 on 04/30/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.