Halliburton management check
HAL · Energy · Oil & Gas Equipment & Services · CEO Jeffrey A. Miller
Filings as of
3 good · 3 to watch · 0 flagged, across the seven questions below.
- Watch
Have owners done well?
Trailed its chosen peers$100 invested at the start of fiscal 2021 grew to $164, against $182 for the peer group the company picked itself.
- Watch
Does pay follow performance?
Pay only loosely tracked returnsOver 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 0.46 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- n/a
What does the CEO cost owners?
Not enough dataNo pay or net income figure for the latest year.
- Watch
Do they own the stock?
CEO stake ≈ 1.9 years of payThe CEO holds 889,388.615 shares, directly or through trusts (unvested awards not counted): about 1.9 years of pay. Light activity: no buys, $18.2m sold in six months. 9 of 11 sales ran on pre-arranged 10b5-1 plans.
- Good
Are owners being diluted?
Share count shrinkingDiluted shares changed -2.8% a year over the last three fiscal years.
- Good
Is leadership stable?
8 leadership filings in 3 yearsCEO in the pay table: Jeffrey A. Miller. 8 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Good
Are the books clean?
No red flags on fileNo restatements, auditor changes or late filings since 2021.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Energy.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 38 | 64 | |
| Pay for performance | 73 | 65 | |
| CEO cost | — | — | 66 |
| Skin in the game | 49 | 49 | |
| Dilution | 84 | 58 | |
| Stable leadership | 85 | 73 | |
| Clean books | 100 | 100 |
Closest peers
Others in Oil & Gas Equipment & Services, by management score. Halliburton is 8th of 20 in its sector.
- 33BKRBaker Hughes84
- 126EOGEOG Resources74
- 131VLOValero Energy73
- 157MPCMarathon Petroleum72
- 162HALHalliburton71
- 183SLBSchlumberger70
Pay versus performance
From the proxy statement filed March 31, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2025 | Jeffrey A. Miller | $16.5m | $18.8m | $6.0m | $164 | $182 | — |
| 2024 | Jeffrey A. Miller | $18.3m | $12.1m | $6.2m | $153 | $176 | — |
| 2023 | Jeffrey A. Miller | $19.9m | $20.8m | $7.4m | $199 | $199 | — |
| 2022 | Jeffrey A. Miller | $23.4m | $64.6m | $8.0m | $213 | $195 | — |
| 2021 | Jeffrey A. Miller | $23.6m | $33.8m | $9.2m | $122 | $121 | — |
The board says pay is tied most to Return on Capital Employed (ROCE). Its other key measures: Return on Capital Employed, Net Operating Profit After Taxes, Asset Turns, Relative Total Shareholder Return.
Insiders and the CEO's stake
Jeffrey Allen Miller (Director, President & CEO) held 889,388.615 shares directly after their latest Form 4 on Aug 18, 2026, roughly $31.1m at that filing's price.
Light activity: no buys, $18.2m sold in six months. 9 of 11 sales ran on pre-arranged 10b5-1 plans.
- SoldVan H. BeckwithEVP, Secretary and CLO · 10b5-1 plan$8.2mMay 15, 2026
- SoldJeffrey Allen MillerDirector, President & CEO · 10b5-1 plan$4.4mAug 18, 2026
- SoldJeffrey Shannon SlocumDirector, EVP and COO · 10b5-1 plan$2.4mAug 19, 2026
- SoldEric CarreEVP & Chief Financial Officer · 10b5-1 plan$1.8mAug 31, 2026
Leadership and governance on file
- Oct 15, 2026Leadership change8-K 5.02
- Feb 11, 2026Leadership change8-K/A 5.02
- Jan 14, 2026Leadership change8-K 5.02
- Dec 4, 2025Leadership change8-K 5.02
- Dec 2, 2025Leadership change8-K 5.02
- Jul 14, 2025Leadership change8-K 5.02
- Jan 8, 2025Leadership change8-K 5.02
- Feb 15, 2024Leadership change8-K 5.02
- May 19, 2023Leadership change8-K/A 5.02
- Mar 13, 2023Leadership change8-K 5.02
- Feb 23, 2023Leadership change8-K 5.02
- May 19, 2022Leadership change8-K/A 5.02
Latest shareholder vote results: May 20, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $5.4bn returned to owners in buybacks and dividends, 57% of net income, and $0 of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $15.3bn | $20.3bn | $23.0bn | $22.9bn | $22.2bn |
| Net income | $1.5bn | $1.6bn | $2.6bn | $2.5bn | $1.3bn |
| Stock-based pay | — | — | — | — | — |
| Buybacks | $0 | $250.0m | $800.0m | $1.0bn | $1.0bn |
| Dividends | $161.0m | $435.0m | $576.0m | $600.0m | $579.0m |
| Diluted shares | 892m | 908m | 902m | 883m | 853m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.