Kodiak Gas Services falls from record on $750 mln stock sale

Kodiak Gas Services

14/05/2026 11:53

** Shares of energy infrastructure provider Kodiak Gas Services KGS.N down 5.5% before the bell to $71.56 after $750 mln follow-on priced

** The Woodlands, Texas-based firm early Thurs sells ~10.56 mln shares at $71

** Offering price represents 6.3% discount to stock's record high close of $75.74 on Weds

** KGS 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 are joint bookrunners among others

** KGS has ~88.8 mln shares outstanding

** Through Weds, shares up 102.5% YTD

** All 12 analysts are bullish on the stock including 4 "strong buy" ratings; median PT $69, according to latest LSEG data

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

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