Raymond James upgrades Tourmaline Oil to "moderate buy," despite company missing earnings estimates.

Raymond James upgraded Tourmaline Oil Corp. to a "moderate buy" rating, though the overall consensus remains a "hold." Despite missing earnings estimates, the company reported $0.78 EPS and $1.16 billion in revenue. Tourmaline Oil's shares opened at $40.10, with a market cap of $14.98 billion and a PE ratio of 12.38. The company explores and develops oil and natural gas in Western Canada.