NEW YORK (TheStreet) -- Triangle Petroleum (TPLM) shares are up 5.6% to $8.83 in trading on Tuesday.
The bump follows the company's announcement that it was pushing back its fiscal year 2014 earnings call as it accounts for the impact of its investment in Caliber Midstream Partners, L.P.
The company consulted with its independent auditor which stated that Triangle Petroleum should realize a gain from the investment in fiscal year 2014.
The company rescheduled its earnings call for Thursday April 17 at 8:30 pm.
TheStreet Ratings team rates TRIANGLE PETROLEUM CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate TRIANGLE PETROLEUM CORP (TPLM) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we find that we feel that the company's cash flow from its operations has been weak overall."
Highlights from the analysis by TheStreet Ratings Team goes as follows: