Kodiak Gas Services shares down as EQT to slice stake

Kodiak Gas Services

12/11/2025 11:48

** Shares of Kodiak Gas Services KGS.N down 1.3% premarket to $33.70 after secondary offering announced

** Oil and gas compression services provider says Swedish private equity firm EQT AB EQTAB.ST to part ways with 10 mln shares

** KGS also intends to purchase 1 mln of offering shares from sole underwriter Goldman Sachs

** Sale would cut EQT's holdings to ~9.8 mln shares, reducing its stake from 22.8% to 11.4%, per the prospectus

** The Woodlands, Texas-based KGS has ~86.68 mln shares outstanding

** Through Tues close, KGS shares down ~16% YTD

** 11 of 12 analysts rate KGS "strong buy" or "buy", 1 rates "hold" and median PT is $44, per LSEG data

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

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