RE:Is there something brewing? It might help to separate the ideas of what the stock is trading for and what the company is worth. Lets say hypothetically based on all of the information you have right now that you believe CVX has an intrinsic value of $1 per share (just over 100 million fully diluted market cap). If no new information comes out and the stock trades down 0.10 cents what does that mean?
The way I view it is the trading price of the stock reflects nothing more than what someone was willing to buy/sell the stock for. Nothing has changed and the stock is still worth $1, so at most it's an opportunity to buy more. Right now small caps in general are down so if you're going to be invested in the unloved you've got to be willing to wait 2-3 quarters for the market to start paying attention. Lots of market inefficency in small caps in general so there are opportunities to buy and hold for 6-24 month periods in established companies that are almost guaranteed to go up, but you need to be patient and also how to value companies!
Based on the information we have right now I would say CVX is guaranteed to return to 0.75 over the next 2-3 quarters, and with strong revenues could easily go over $1. Unless some big piece of positive news comes out you're likely going to have to wait for revenues to hit financial satements for that to actually pan out though.