NEW YORK (TheStreet) -- Shares of SandRidge Energy (SD) - Get Reportare slumping, down 1.01% to $1.46 in late afternoon trading Thursday, as both West Texas Intermediate crude and Brent crude trade in the red.

Oil prices are falling on Kuwait's stance that OPEC had no choice but to maintain its production levels in an oversupplied market, Reuters reports.

WTI crude for April delivery is down 1.95% to $43.79 a barrel as of 3:40 p.m. ET on the New York Mercantile Exchange, while Brent crude for May delivery is also down 2.61% to $54.45 a barrel today.

In yesterday's session, Brent crude rallied nearly 5% and U.S. crude about 3% on the dollar weakness, Reuters added.

Oklahoma City-based SandRidge Energy is an oil and natural gas company that focuses on exploration and production activities, operating businesses and infrastructure systems, including gas gathering and processing facilities, marketing operations, a saltwater disposal system, an electrical transmission system and a drilling rig.

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:

The company explores for natural gas and oil in the U.S., primarily onshore. The stock fell 6% this week, along with the underlying price of oil. We maintain that SandRidge is better hedged and has relatively less debt than its small-cap peers.

- David Peltier, 'Weekly Roundup' originally published 3/13/2015 on Stocks Under $10.

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