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Webb Simpson, a two-time winner last year, carded a six-under 65 and is alone in second place. Harrison Frazar, Kevin Na, Chez Reavie, Derek Lamely and Jarrod Lyle are tied for third after posting five-under 66s.
They were joined there by Bubba Watson, Spencer Levin and Jason Dufner. Watson and Levin both finished 15 holes, while Dufner is through 13.
The 35-year-old dropped his approach within 10 feet at the 18th and converted that birdie effort to get within two of Simpson.
Palmer made it two in a row with a birdie on the first. A 13-foot birdie putt on the fourth gave Palmer a share of the lead. He followed with a 12-footer for birdie on five and made it three in a row with a 10-foot birdie effort on the No. 6.
Simpson opened with four pars in a row. He flew up the leaderboard with six birdies in the next seven holes. That spurt started with a 13-footer at 14 and kick-in birdie on the 15th.
Around the turn, Simpson sank a 12-footer for birdie on one and moved atop the leaderboard as he stuffed his approach inside a foot on the second.
Simpson climbed to minus-seven when he sank a 16-foot birdie try on the fifth. His drive landed in the rough on the sixth and that led to Simpson's only bogey of the day.
Two-time winner Phil Mickelson posted a three-under 68 and is tied for 19th. That was his first sub-par opening round of the year.
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