Alex Prugh was one shot off the lead at five-under 67, with nine players tied another stroke further back at four-under 68.
The Nationwide Tour record for most players tied for the 18-hole lead is eight, last reached at the Oregon Classic in September.
Barcelo was the only co-leader who had a morning tee time on Thursday, going out early and setting the number with a round that included seven birdies and a bogey.
He made three birdies early in the round, then strung together three in a row from the 10th. His only bogey came at the par-four 15th, but Barcelo rebounded with a birdie on the 18th.
Then, he waited.
The other four co-leaders played in the afternoon, with the Argentine Fernandez the first to match Barcelo after he made six birdies, two bogeys and an eagle at the par-five second.
'I am trying to tournament by tournament and day by day,' said Fernandez, a rookie transplant from the European Tour. 'I just want to get better.'
Putnam finished soon after, posting eight birdies and two bogeys to match Barcelo and Fernandez. Owen and Sisk joined them following rounds of seven birdies and one bogey each.
Three of the co-leaders found trouble at the same hole: the par-three 13th at Jennings Mill Country Club, where Putnam, Owen and Sisk each made bogey.
'This is a good, solid course you can score on,' said Putnam, who was a rookie on the PGA Tour last year. 'I expected someone to be seven- or eight-under.'
Darron Stiles, Miguel Angel Carballo, Fran Quinn, Tom Johnson, Jon Turcott, Steven Bowditch, Bob Heintz, David Branshaw and Brendon Todd were tied at four-under 68.
Overall, there were 47 players separated by just five shots at the top of the leaderboard.