Kodiak Gas Services slips as EQT exits in $338 mln stock sale

Kodiak Gas Services' KGS.N shares down 1.1% before the bell at $34.80 as EQT AB EQTAB.ST divests its remaining approx 11% stake

Oil and gas compression services provider says ~9.77 mln share secondary offering by the Swedish private equity firm priced at $34.60, for deal size of about $337.8 mln

Offering price represents 1.7% discount to stock's last close

Post-offering, EQT will not beneficially own any KGS shares and will no longer have the right to nominate members to co's board of directors

Goldman Sachs sole underwriter for offering

Last month, EQT sold 10 mln KGS shares in secondary offering priced at $33.60

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

Through Fri close, KGS shares down ~14% YTD

12 of 13 analysts rate KGS "strong buy" or "buy", 1 rates "hold" and median PT is $44, per LSEG data