Shares of Range Resources increased 1.97% to $64.62. The company is scheduled to report fourth-quarter earnings on Tuesday. Analysts, on average, anticipate earnings of 31 cents a share on revenue of $314.87 million. "Earlier this week, RRC put a new slide in its presentation showing that its current realizations are $7.17/Mcf in the Marcellus versus $6.34/Mcf in the old presentation," Capital One analysts wrote in a Feb. 9 report. "About half of this uplift is based on RRC's new assumption of higher oil prices ($98 WTI vs $85 before). But, there was another change to the economics that we were not expecting. We spoke with RRC yesterday about the slide and they explained that their old presentation conservatively (accidentally) double counted wet gas processing charges as a deduct from revenues AND as an expense. We were basing our NAV on the incorrect old slides. We are now increasing our SW PA margins by ~35c/Mcfe, which increases our NAV from $63 to $73. This gives the company 18% upside to our NAV, which justifies an Add rating, up from Neutral." Range Resources has a forward P/E of 57.99; the average for exploration and production companies is 19.63. For comparison, both Continental Resources ( CLR) and Southwestern Energy ( SWN) have lower forward P/Es of 26.86 and 21.36, respectively. Of the 39 analysts who cover Range Resources, 21 rated it a hold. Seventeen analysts gave the stock a buy rating and one rated it a sell. TheStreet Ratings gives Range Resources a C grade and hold rating. The stock closed Thursday at $63.37 and has risen 4.47% year to date.