Oil Winners and Losers: Sunoco

Updated from 11:11 a.m. EDT

Shares of most major oil companies moved lower Tuesday morning in concert with crude oil's price drop.

Sunoco(SUN Quote), after being up as much as 88 cents in the session, finished down 8 cents to $28.19. JPMorgan upgraded the refiner from neutral to overweight Tuesday morning.

Light, sweet crude oil futures for May delivery settled lower by $1.90 to $49.15 a barrel on the New York Mercantile Exchange.

The Amex Oil Index was down 2.5%, or 22.56 to 868.19.

Shares of Royal Dutch Shell(RDS.B Quote) were off 3.9%, to $42.94.

ConocoPhillips(COP Quote) shares were down 3.6% to $39.69.

Chevron(CVX Quote) was lower by 2.1% to $68.40.

BP(BP Quote) shares were down 2.6% to $39.64.

Exxon Mobil(XOM Quote) was lower by 1.9% to $68.71.