No, Clifford Ray was selected in the 3rd round. Gar Heard went #3 overall. I believe it was 1970, but not positive. Heard and Ray were both great Sooners, but neither was better than Hollis.
As others mentioned, Wayman, Alvan, Mookie, Stacey and Blake are the top 5 with the order being debatable. However, there are about a half-dozen Sooners vying for the sixth best OU player, and Hollis Price is definitely one of them.