NEW YORK (TheStreet) -- Shares of oil and natural gas exploration company SandRidge Energy (SD) - Get Report were falling 5.9% to $1.48 Friday as oil prices declined following the International Energy Agency's monthly report for February.

West Texas crude oil for April delivery was falling 4% to $45.17 a barrel Friday afternoon and Brent crude oil for April delivery was falling 2.6% to $55.62 a barrel.

Oil prices were falling following a monthly IEA report that said U.S. oil inventory growth "shows precious little sign of slowing down. Quite the contrary, it continues to defy expectations." The agency added that the U.S. may run out of empty tanks to store crude oil in soon, according to the Wall Street Journal.

The IEA report said that global oil supply grew by 1.3 million barrels a day year over year to 94 million barrels a day in February, despite lower OPEC output.

Insight from TheStreet's Research Team:

SandRidge Energy is a core holding of David Peltier's Stocks Under $10 Portfolio. During the most recent weekly roundup, this is what Dave had to say about the stock:

SandRidge Energy (SD; $1.59; 1,600 shares; 1.41%; Inflection Point; $8 price target): The company explores for natural gas and oil in the U.S., primarily onshore. The stock lost 10% this week. Even so, we maintain that SandRidge is better hedged and has relatively less debt than its peers.