ConocoPhillips ( COP) was a lone bright spot in the integrated oil sector in early afternoon trading Friday, rising after an analyst upgrade.

Goldman Sachs raised Conoco to buy from neutral based on valuation. Shares are down 23% this year, while domestic integrated oils are up 7%. The key catalyst for the stock is a recovery in oil prices during the second half of 2009. With shares having lagged peers during recent rally, the stock is now too cheap relative to peers and with respect to its assets, the report said. The price target was lowered to $47 from $50.

Light, sweet, crude oil futures for May delivery on the were recently trading down $2.09, to $52.25 a barrel on the New York Mercantile Exchange Friday.

Chevron ( CVX) was down 2%, or $1.40 to $68.77.

BP ( BP) was 85 cents, or 2% lower to $40.87.

Exxon Mobil ( XOM) was down 1.46%, or $1.04 to $70.19.

Royal Dutch Shell ( RDS.B) was down 1.7%, or 77 cents to $44.98.

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