Jason Dufner posted a 6-under 66 to climb into second place. He stands alone there are 9-under-par 135. Sean Murphy posted his second straight 4-under 68 and shares third place at 8-under-par 136 with Sonny Skinner, who shot 5-under 67.
Hensby rolled in an eight-footer for birdie on the second at Midland Country Club to get his round going. He came right back with a 18-footer for birdie at the next and capped a run of three straight birdies with a two-putt birdie at the par-5 fourth.
He dropped a 5-iron within 15 feet for birdie at the eighth. Hensby, who won the rain-delayed Henrico County Open earlier this year, followed with a five-foot birdie putt at the ninth.
He made the turn at 5-under par 31 and coasted to the clubhouse.
Hensby chipped his third within eight feet to setup birdie at the par-5 15th. He came right back to drain a 15-footer for birdie at the next to cap a bogey-free round.
'It must be something in the water,' said Hensby. 'I'm playing well again here. I drove it pretty good and I putted well. I like this course.'
Dufner started his day three shots off the overnight lead. He quickly erased that deficit with birdies at the first, fifth and seventh. He capped a stellar front nine with a birdie at the par-4 ninth.
Around the turn, Dufner's run was temporarily sidetracked with a bogey at the 11th. He responded with back-to-back birdies from the 12th, however, to move to eight-under.
Dufner again notched two straight birdies, this time from the 16th, to grab a share of the lead at minus-10. However, he bogeyed the last to drop into second place.
'I didn't play so great tee to green,' Dufner said. 'I putted extremely well though. I'd rather be one up but I'm in good position.'
Murphy began his day two strokes behind overnight leader Rich Barcelo. Murphy dropped farther off the pace as he bogeyed the 15th and 16th, his sixth and seventh holes of the day.
He responded in fine fashion though as he birdied each of the next two holes to head to the front side even-par for his round.
Murphy, who owns six tour victories, birdied the second and fourth. He came right back with a birdie at the fifth and closed his round with a birdie at the seventh to tie for third.
'I got off to a slow start but after that I played pretty well,' said Murphy. 'The two birdies right after the two bogeys was a big key. I hit good smart shots on the back nine today.'
John Restino and Wes Short posted matching rounds of 5-under 67. They share fifth place at 7-under-par 137. Rick Price, Jeremy Wilkinson, David Branshaw, Jess Daley, Pete Jordan and Patrick Moore are one stroke further back at minus-6.
Barcelo, the overnight leader, stumbled to a 2-over 74. He is tied for 23rd place at 4-under-par 140.
The cut line came at 1-under-par 143. Tag Ridings, the 2002 champion, carded a 2-over 74 Friday to miss the cut by one stroke at even-par 144.