Happy-go-lucky cowboy Bob Fleming exhibits such prowess with his pistol, that he wins the three gold coins offered by millionaire Luther Reed to test his marksmanship. Bob also makes an impression on Reed's pretty daughter Betty. The cowboy is so admired by the local citizenry that when crooks J. M. Ballinger and Rufus Berry arrive in town, they decide to make Bob their patsy. After planting oil on Bob's land, they sell stock to the townfolk and the cowboy, who has been innocently drawn into the scheme, turns it over to the crooks for safekeeping. For his efforts, Bob is arrested and found guilty of defrauding the stock holders, and also charged with being notorious outlaw Pat Duncan. After several adventures, Bob succeeds in capturing the real Duncan, vindicates himself of the charges and wins Betty for his bride.