Crude Oil Finds More Buyers

Energy stocks were mostly higher. Large integrated oil and gas firms such as BP (BP Quote), Exxon Mobil (XOM Quote) and Chevron (CVX Quote) were all trading to the upside.

Sempra Energy (SRE Quote) was upgraded by RBC Capital Markets from outperform to top pick. Its stock was trading 55 cents higher at $61.

BP Prudhoe Bay Royalty (BPT Quote) was upgraded by AG Edwards to hold from sell, lifting the stock 3.3% at $60.32. Electricity provider Exelon (EXC Quote) was upgraded by Citigroup to buy from hold, and its stock was up 2.1% at $65.60.

Meanwhile, Williams (WMB Quote) was downgraded by RBC Capital Markets to sector perform from outperform. Its stock was down 5 cents at $27.96. Shares of Holly Energy Partners (HEP Quote) fell 2.2% to $45.40 after being downgraded by Credit Suisse to underperform from neutral.

Plains Exploration (PXP Quote) was also downgraded by Credit Suisse to neutral from outperform, and it was given a new target value of $42. The stock was trading 2.1% lower at $47.73.