UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 4)
PANHANDLE ROYALTY COMPANY
(Name of Issuer)
CLASS A COMMON STOCK (VOTING) - $0.0333 PAR VALUE
(Title of Class of Securities)
698477 10 6
(CUSIP Number)
DECEMBER 31, 2002
(Date of Event Which Requires Filing of This Statement)
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[X] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
SCHEDULE 13G
CUSIP NO. 698477 10 6 PAGE 2 OF 9 PAGES
- -
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1. NAME OF REPORTING PERSON
Robert E. Robotti
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [x]
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3. SEC USE ONLY
--------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
5. SOLE VOTING POWER
-0-
NUMBER OF ------------------------------------------------------------------
SHARES 6. SHARED VOTING POWER
BENEFICIALLY 119,763
OWNED BY ------------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING -0-
PERSON WITH ------------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
119,763
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORT PERSON
119,763
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* [ ]
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.8%
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12. TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
SCHEDULE 13G
CUSIP NO. 698477 10 6 PAGE 3 OF 9 PAGES
- -
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1. NAME OF REPORTING PERSON
Robotti & Company, Incorporated
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
11-2627501
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [x]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
New York
--------------------------------------------------------------------------------
5. SOLE VOTING POWER
-0-
NUMBER OF ------------------------------------------------------------------
SHARES 6. SHARED VOTING POWER
BENEFICIALLY 27,951
OWNED BY ------------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING -0-
PERSON WITH ------------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
27,951
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORT PERSON
27,951
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* [ ]
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
1.3%
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
CO, BD, IA
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
SCHEDULE 13G
CUSIP NO. 698477 10 6 PAGE 4 OF 9 PAGES
- -
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1. NAME OF REPORTING PERSON
Ravenswood Investment Company, L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
11-2474002
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [x]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
New York
--------------------------------------------------------------------------------
5. SOLE VOTING POWER
-0-
NUMBER OF ------------------------------------------------------------------
SHARES 6. SHARED VOTING POWER
BENEFICIALLY 91,812
OWNED BY ------------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING -0-
PERSON WITH ------------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
91,812
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORT PERSON
91,812
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* [ ]
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
4.4%
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
PN
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
SCHEDULE 13G
ITEM 1(A). NAME OF ISSUER.
Panhandle Royalty Company
ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
Grand Centre Suite 210
5400 N. Grand Boulevard
Oklahoma City, OK 73112
ITEM 2(A). NAME OF PERSONS FILING:
This statement is filed by:
(i) Robert E. Robotti, a United States citizen ("Robotti"); and
(ii) Robotti & Company, Incorporated, a New York corporation
("Robotti & Company"); and
(iii) The Ravenswood Investment Company, L.P., a New York limited
partnership ("Ravenswood")
ITEM 2(B). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
c/o Robotti & Company, Incorporated
52 Vanderbilt Avenue,
Suite 503
New York, New York 10017
ITEM 2(C). CITIZENSHIP:
See Item 2(a)
ITEM 2(D). TITLE OF CLASS OF SECURITIES:
Class A Common Stock (voting) - $0.0333 par value
ITEM 2(E). CUSIP NUMBER:
698477 10 6
Page 5 of 9 Pages
SCHEDULE 13G
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(B), OR 13D-2(B) OR
(C), CHECK WHETHER THE PERSON FILING IS A:
(a) [X] Broker or dealer registered under Section 15 of the
Exchange Act.
(b) [ ] Bank as defined in Section 3 (a)(6) of the Exchange Act.
(c) [ ] Insurance company as defined in Section 3(a)(19) of the
Exchange Act.
(d) [ ] Investment company registered under Section 8 of the
Investment Company Act.
(e) [X] An investment adviser in accordance with Rule 13d-1
(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in accordance
with Rule 13d-1 (b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in accordance
with Rule 13d-1 (b)(1)(ii)(G);
(h) [ ] A savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act;
(i) [ ] A church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the
Investment Company Act;
(j) [ ] Group, in accordance with Rule 13d-1 (b) (1)(ii)(J)
ITEM 4. OWNERSHIP:
(a) Robert E. Robotti shares beneficial ownership of 119,763
shares of the Security through the following:
- his ownership of Robotti & Company, a broker-dealer
registered under Section 15 of the Securities Exchange
Act of 1934 and an investment advisor in accordance
with Rule 13d-1 (b)(1)(ii)(E), by virtue of the
investment discretion Robotti & Company has over the
accounts of its brokerage customers and advisory
clients, which hold an aggregate of 12,611 shares of
the Security; and
- his ownership of Robotti & Company, which directly owns
8,740 shares of the Security; and
Page 6 of 9 Pages
SCHEDULE 13G
- the IRA of his wife, Suzanne Robotti, which holds 4,500
shares of the Security with Robotti & Company; and
- the IRA of his father, Edward Robotti, which holds
2,100 shares of he Security with Robotti & Company; and
- his position as General Partner of Ravenswood, which
owns 91,812 shares of the Security.
(b) The amount of shares of the Security beneficially owned by Robert
E. Robotti is 5.8% of the total outstanding shares of 2,082,190
Class A common stock as per the Issuer's 10-Q dated February 13,
2003.
(c) (i) Mr. Robotti does not have the sole power to vote or direct
the vote of any of the shares of the Security.
(ii) Mr. Robotti shares the power to vote or direct the vote of
the shares of the Security as follows:
- he shares with Robotti & Company and its brokerage
customers and advisory clients the power to vote or
direct the vote of 21,351 shares of the Security; and
- he shares with Suzanne Robotti the power to vote or
direct the vote of 4,500 shares of the Security; and
- he shares with Edward Robotti the power to vote or
direct the vote of 2,100 shares of the Security; and
- he shares with the other Managing Member of Ravenswood
Management Company, L.L.C., which serves as the General
Partner of Ravenswood the power to vote or direct the
vote of 91,812 shares of the Security.
(iii) Mr. Robotti does not have the sole power to dispose or to
direct the disposition of any of the shares of the Security.
(iv) Mr. Robotti shares the power to dispose or to direct the
disposition of the shares of the Security as follows:
- he shares with Robotti & Company and its brokerage
customers and advisory clients the power to dispose or
to direct the disposition of 21,351 shares of the
Security; and
- he shares with Suzanne Robotti the power to dispose or
to direct the disposition of 4,500 shares of the
Security; and
- he shares with Edward Robotti the power to dispose or
to direct the disposition of 2,100 shares of the
Security; and
Page 7 of 9 Pages
SCHEDULE 13G
- he shares with the other Managing Member of Ravenswood
Management Company, L.L.C., which serves as the General
Partner of Ravenswood the power to dispose or to direct
the disposition of 91,812 shares of the Security.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
Not applicable.
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
Not applicable.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY OR
CONTROL PERSON.
Not applicable.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
Not applicable.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
Not applicable.
ITEM 10. CERTIFICATIONS.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired and are
held in the ordinary course of business and were not acquired and
are not held for the purpose of or with the effect of changing or
influencing the control of the issuer of the securities and were
not acquired and are not held in connection with or as a
participant in any transaction having that purpose or effect.
Page 8 of 9 Pages
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: February 14, 2003
By: /s/ Robert E. Robotti
----------------------
Robert E. Robotti
Robotti & Company, Incorporated
By: /s/ Robert E. Robotti
------------------------
Name: Robert E. Robotti
Title: President and Treasurer
The Ravenswood Investment Company, L.P.
By: Ravenswood Management Company, L.L.C.
-------------------------------------
General Partner of
Ravenswood Investment Company, L.P.
By: /s/ Robert E. Robotti
----------------------
Name: Robert E. Robotti
Title: Managing Member of
Ravenswood Management Company, L.L.C
Page 9 of 9 Pages