We present detections of the CO(4-3) and [C i] 609 µm spectral lines, as well as the dust continuum at 480.5 GHz (rest-frame), in 3C 368, a Fanaroff-Riley class II (FR-II) galaxy at redshift (z) 1.131. 3C 368 has a large stellar mass, ∼ 3.6 × 10 11 M , and is undergoing an episode of vigorous star formation, at a rate of ∼ 350 M yr −1 , and active galactic nucleus (AGN) activity, with radio-emitting lobes extended over ∼ 73 kpc. Our observations allow us to inventory the molecular-gas reservoirs in 3C 368 by applying three independent methods: (1) using the CO(4-3)-line luminosity, excitation state of the gas, and an α CO conversion factor, (2) scaling from the [C i]-line luminosity, and (3) adopting a gas-to-dust conversion factor. We also present gas-phase metallicity estimates in this source, both using far-infrared (FIR) fine-structure lines together with radio free-free continuum emission and independently employing the optical [O iii] 5007Å and [O ii] 3727Å lines (R 23 method). Both methods agree on a sub-solar gas-phase metallicity of ∼ 0.3 Z . Intriguingly, comparing the molecular-gas mass estimated using this sub-solar metallicity, M gas ∼ 6.4 × 10 10 M , to dust-mass estimates from multi-component spectral energy distribution (SED) modeling, M dust ∼ 1.4 × 10 8 M , yields a gas-to-dust ratio within ∼ 15% of the accepted value for a metallicity of 0.3 Z . The derived gas mass puts 3C 368 on par with other galaxies at z ∼ 1 in terms of specific star-formation rate and gas fraction. However, it does not explain how a galaxy can amass such a large stellar population while maintaining such a low gas-phase metallicity. Perhaps 3C 368 has recently undergone a merger, accreting pristine molecular gas from an external source.