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Kodiak Gas Services dips as top holder EQT to carve stake

ReutersSep 8, 2025 10:57 AM

** Shares of Kodiak Gas Services KGS.N down 1.2% premarket to $34.88 after secondary offering news

** Compression services provider to oil and gas industry announces Swedish private equity firm EQT AB EQTAB.ST to offload 10 mln shares

** Offering would take EQT's holdings to ~19.76 mln shares, reducing its stake from 34.3% to 22.8%, per the prospectus filing

** The Woodlands, Texas-based KGS has ~86.68 mln shares outstanding as of Sept 3 for ~$3.1 bln market cap

** Goldman Sachs is sole underwriter for the offering

** KGS shares on Fri closed down 3.3% at $35.32, down 13.5% YTD

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

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