Yoan Gouffran's first-half goal gave Newcastle the lead at the break, but Southampton responded after the interval and secured a point with a strong second half performance.
Loic Remy produced a miss of the season contender late on as he had a glorious chance to win the game, but somehow fluffed his chance in front of goal.
Newcastle created the first noteworthy chance of the game after six minutes with a training ground corner kick routine as Vurnon Anita picked out Mathieu Debuchy on the edge of the box and he flashed his volley wide of the target.
The home side should have broken the deadlock on 13 minutes when Gouffran got on the end of Shola Ameobi's pass inside the box ahead of Paulo Gazzaniga and pulled the ball back for Remy who, with the goal at his mercy, saw his shot kicked off the line by Calum Chambers.
Southampton fashioned their first chance of the game three minutes later when Dani Osvaldo teed up James Ward-Prowse on the edge of the box, but his shot lacked the power to trouble Tim Krul.
Newcastle made the breakthrough on 27 minutes with Gouffran capitalising on a mistake by Jos Hooiveld to score his sixth goal of the season.
Hooiveld made a mess of clearing Mike Williamson's header into the box and the ball fell to Gouffran who coolly rounded Gazzaniga before slotting the ball home into the empty net.
Southampton were struggling to make any inroads on the Newcastle defence, but Rickie Lambert had a sight of goal four minutes before the break when he latched onto Steve Davis' pass, but he dragged his shot well wide of the target.
Southampton improved in the second half and Lambert found Rodriguez inside the box with a brilliant pass, but the striker failed to connect properly with his attempted volley.
Shola Ameobi should have done better on 56 minutes when he found himself unmarked from Anita's corner, but the striker failed to direct his header on target.
Southampton were inches away from equalising just after the hour mark when Davis let fly from the edge of the box with a dipping left-footed volley which came off the post with Krul well beaten.
The visitors drew level on 65 minutes with a brilliant effort on the counter attack from Rodriguez.
Substitute Adam Lallana fed Rodriguez on the halfway line and he played a neat one-two on the edge of the box with Davis before calmly slotting the ball past Krul.
Rodriguez had a great chance to give Southampton the lead on 71 minutes when Dejan Lovren headed the ball across the face of goal to Rodriguez who saw his point-blank header superbly kept out by Krul.
A minute later Newcastle really should have restored their lead when Gazzaniga's fluffed clearance fell straight to the feet of Remy, but with only the keeper to beat the normally deadly striker fired his shot high and wide of the target.
Both sides pushed for a winner in the closing stages and there was a melee between both benches, but neither side could find a winner as it ended all square.