The Clarets have now drawn four of their last five on their travels in the Premier League and have lost just once in eight — against Manchester City in mid-October.
Sean Dyche's side registered just one shot on target in the West Midlands having had just 35% of possession.
But the home side failed to make the most of their 16 shots on goal as the Clarets dug in for a share of the spoils.
Adama Traore was the closest to breaking the deadlock in the first half when countering from a Burnley corner and thumping the ball against the crossbar.
The Portugal international also had an opportunity to win the game in the second half, but Nick Pope's fine fingertip save kept the scores level.
Here are the ratings.
1. Nick Pope 7
Wolves had the lion's share of possession and registered 16 shots on goal, but only two were on target. Made a routine save to hold Dendoncker's header but made a fine save at full stretch to turn Traore's second half daisy-cutter past the post.
2. Matt Lowton 6.5
It wasn't the full back's best performance of late, but he stuck to his task to help the Clarets record a second clean sheet of the season. Given a real test by Ait Nouri and Hee-Chan Hwang, but recovered after a shaky start.
3. Charlie Taylor 9
Fantastic at both ends of the pitch and no surprise to hear Sean Dyche mention his name in the same breath as 'England' afterwards. Made an exceptional challenge to deny Jimenez in the first half, which he repeated as full-time neared, and his deliveries into the box posed a threat.
4. Nathan Collins 8
The centre back has barely put a foot wrong during a handful of appearances for the Clarets. Composed on the ball, difficult to fluster when isolated by forwards, takes up good positions inside the penalty area and made two crucial interventions to deny Hee-Chan Hwang.