Kodiak Gas Services steadies as EQT slices stake in $336 mln secondary offering

Kodiak Gas Services

12/11/2025 14:50

Updates with pricing details

** Shares of Kodiak Gas Services KGS.N up 0.3% at $34.23, reversing premarket loss, early Weds after $336 mln secondary offering prices

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

** Offering price of $33.60 represents 1.6% discount to stock's close on Tues

** 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

** KGS shares down ~16.5% 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))