Kodiak Gas Services eases after $750 mln stock sale unveiled

Kodiak Gas Services

13/05/2026 22:30

** Energy infrastructure provider Kodiak Gas Services' KGS.N shares down 5.6% in extended trading to $71.48 on planned equity raise

** KGS stock rose 0.8% to record high close of $75.74 on Weds, up 102.5% YTD

** The Woodlands, Texas-based firm after the bell commences $750 mln stock offering

** It intends to use net offering proceeds to repay a portion of borrowings under its asset-based lending facility, and potentially for additional power generation equipment

** Goldman Sachs and JP Morgan joint bookrunners

** KGS has ~88.77 mln shares outstanding for about $6.7 bln market cap

** All 13 analysts are bullish on the stock including 5 "strong buy" ratings; median PT $69, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))