Davis immediately took a liking to the Copperhead Course, starting out on the back nine and registering birdies on four of his first six holes. He would go on to add further birdies on the fifth and sixth holes.
However, the Briton failed to extend his lead after getting off to a strong start, slumping to bogeys on the seventh and eighth holes.
Despite this, Davis managed to keep the United States duo of Sean O'Hair and Ricky Barnes at bay with his six-under 65.
O'Hair remains one stroke behind Davis after hitting five birdies and two bogeys.
Joining O'Hair in second place is Barnes, who entertained the crowd with four successive birdies. However, when he had the opportunity to share the lead with Davis, Barnes slipped up as he struck his only bogey of the day on the 17th hole.
Henrik Stenson would have been disappointed not to build on the promising start. The Swede, who remains one shot behind O'Hair and Barnes, started off with three birdies in his first five holes. However, his fortunes dipped slightly as he hit 12 consecutive pars before registering a birdie on the ninth hole.
Joining Stenson on the leaderboard at four-under is Justin Thomas, Derek Ernst, Brendon de Jonge, Nicholas Thompson and Alex Cejka.