Ochoa got off to an eagle-birdie start, but a double bogey at No. 15 spoiled her round and left the top-ranked Mexican star three strokes behind leaders Stephanie Louden, Nicole Castrale, Karin Sjodin and Reilley Rankin.
The four leaders, tied at 4-under 138, are all seeking their first LPGA Tour win.
"No matter who is up there, I know that I have played just as well as they have, and I want to win just as much as they do," said Sjodin, a former Oklahoma State star who leads the tour in driving distance.
Rankin shot a 3-under 68, Louden had a 69, Sjodin a 70 and Castrale a 71.
"Of course it's better to have those names up there than Annika (Sorenstam) and Lorena," Sjodin added. "But I still think if I had played just as well as them so far, I can do it tomorrow as well."
Rankin's 68 matched Mi Hyun Kim and Young Kim for the low round of the day on a windy, but much drier, course at Cedar Ridge Country Club. Mi Hyun Kim and Angela Stanford (71) were one stroke behind the leaders. Se Ri Pak (71) and Katherine Hull (69) were tied for seventh, two strokes off the lead.
Pak, who has 23 career wins, is the only player among the top nine that has more than one career victory. Stanford is the only other with even one win, and it came at the 2003 ShopRite LPGA Classic.
Seven player were four strokes back, including Juli Inkster (70) and Ochoa (71), who took over the No. 1 ranking from Sorenstam last week.
Ochoa had birdie putts at the fourth and fifth holes slide just past the right edge of the cup, and her round soon took a turn for the worse. The wind caught her tee shot at No. 6 and dropped it on the far side of the green. She three-putted for bogey to fall to 2 under.
Ochoa ripped a drive well beyond 300 yards to straighten out a dogleg right and set up a birdie at the 399-yard par-4 seventh. She had another birdie at No. 10, and bogeys at the eighth and 13th holes before misjudging the wind at the 185-yard 15th.
"I hit it the way I wanted to hit it. I hit it so low that the wind didn't even touch the ball. I ended up on the back of the green," the Mexican star said.
"Sometimes it's just a learning experience. It would be different if you miss a shot and end up in the water or hit a tree or something. I hit the perfect shot, but just ended up in a bad spot. I will learn from that and not do it again."
FedEx Kinko's Classic
LAKEWAY, Texas - Scott Hoch moved into position for his first Champions Tour victory, shooting a 6-under 66 to take a three-stroke lead over D.A. Weibring into the final round of the FedEx Kinko's Classic.
"I haven't been healthy since I came out here or I think I would have done better," said the 51-year-old Hoch, an 11-time winner on the PGA Tour.
The only player in the field without a bogey in the first two days, Hoch had an 11-under 133 total on The Hills Country Club course.
Weibring was 8 under after his second straight 68. Hale Irwin (68) and first-round leader Leonard Thompson (73) were 7 under, Loren Roberts (72) and Tom Purtzer (67) followed at 6 under, and Massy Kuramoto (73) was 5 under.