Range Resources (NYSE:RRC) and BKV Corp. (NYSE:BKV) were added as new long ideas at Hedgeye.

Range Resources (RRC) " gives plenty of low-cost natural gas exposure with a solid balance sheet," Hedgeye analyst Fernando Valle wrote in a note on Tuesday. " "The tailwinds from power demand, LNG build-out may raise all ships in natural gas, but with near-term uncertainty from elevated inventories and winter season, we prefer to stick to a lower-leverage, consistent dividend. Quality and low-beta should do well in a QUAD3 scenario."

Valle likes BKV as the company will "will benefit not only from higher natural gas prices, but also the rise of power prices in Texas amid power load growth," he added. "This a classic sum-of-the-parts story from a recent IPO that is still thinly traded and with little sell-side coverage. "