September was a great month to own shares of Transocean LTD (NYSE: RIG), which gained a very strong 25.7% on the month. If we go back a couple of weeks further, Transocean’s stock price jumped a remarkable 48% between August 18 and the end of September.
Two big catalysts have been behind the recent push by investors into the offshore-drilling contractor’s stock: higher oil prices and a big vote of confidence by an investment-bank analyst who covers the sector.