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NEW YORK ( TheStreet) -- Triangle Petroleum (AMEX: TPLM) has been upgraded by TheStreet Ratings from hold to buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, compelling growth in net income, expanding profit margins and impressive record of earnings per share growth. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.

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Highlights from the ratings report include:
  • TPLM's very impressive revenue growth greatly exceeded the industry average of 7.6%. Since the same quarter one year prior, revenues leaped by 255.9%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • Powered by its strong earnings growth of 175.00% and other important driving factors, this stock has surged by 91.99% over the past year, outperforming the rise in the S&P 500 Index during the same period. Regarding the stock's future course, although almost any stock can fall in a broad market decline, TPLM should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Oil, Gas & Consumable Fuels industry. The net income increased by 257.3% when compared to the same quarter one year prior, rising from -$9.06 million to $14.25 million.
  • The gross profit margin for TRIANGLE PETROLEUM CORP is rather high; currently it is at 50.32%. Despite the high profit margin, it has decreased significantly from the same period last year. Despite the mixed results of the gross profit margin, TPLM's net profit margin of 16.66% significantly outperformed against the industry.
  • TRIANGLE PETROLEUM CORP reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. However, we anticipate underperformance relative to this pattern in the coming year. During the past fiscal year, TRIANGLE PETROLEUM CORP turned its bottom line around by earning $0.88 versus -$0.30 in the prior year. For the next year, the market is expecting a contraction of 30.7% in earnings ($0.61 versus $0.88).

Triangle Petroleum Corporation engages in the acquisition, exploration, development, and production of unconventional shale oil and natural gas resources in the Bakken Shale and Three Forks formations in the Williston Basin of North Dakota and Montana. Triangle has a market cap of $841.7 million and is part of the basic materials sector and energy industry. Shares are up 18.1% year to date as of the close of trading on Monday.

You can view the full Triangle Ratings Report or get investment ideas from our investment research center.

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