Amazingly all five of Hoddle's five games in charge have ended in 1-1 draws. The only difference in this game is that Wolves actually took the lead for the first time since Hoddle was appointed.
But they were unable to hold on to the advantage that Seol Ki-Hyeon had given them in the 23rd minute with his first league goal for the club following his £1.2million move from Anderlecht in August.
Wolves also saw Kenny Miller miss some clear cut chances to make the game safe before Oakes gifted David Friio Plymouth's second-half equaliser.
It was a well deserved point for battling Plymouth who ended a run of four successive away defeats thanks to Friio's 58th minute strike.
Wolves made their breakthrough when a neat pass by Miller picked out Ki-Hyeon who advanced a couple of strides before lashing his shot past Romain Larrieu in the Plymouth goal from 30 yards.
It should have been the signal for Wolves to put the game out of the reach of Plymouth but they were let down by the finishing of Miller.
Ten minutes before half-time he was released by a pass from Ki-Hyeon and took the ball around Larrieu to be faced by an open goal.
But, just as he was about to stroke the ball home, a last-ditch challenge from Mathias Doumbe deflected his shot for a corner.
Miller then twice shot wide from good positions when he only had Larrieu to beat.
They proved to be costly mistakes by Miller as Plymouth battled their way back on to level terms through a scrambled strike from Friio 13 minutes into the second half.
The goal was a personal disaster for Oakes. He spilled a cross from Paul Wotton under pressure from Evans.
Evans then stabbed the loose ball in to Friio who drove the ball home from 12 yards with Oakes still hopelessly out of position.