As part of the swap, Tampa Bay also acquired minor league infielder Osleivis Basabe and minor league outfielder Alexander Ovalles, and Texas obtained minor league first baseman Jake Guenther and a player to be named.
The 25-year-old Lowe hit .224 with four homers and 11 RBIs in 21 games last season and was 0-for-3 in the wild-card playoff against Toronto, his only postseason appearances. A first baseman and third baseman, he has a .251 average with 11 homers and 30 RBIs in two seasons.
Guenther, 23, hit .320 with two homers and 30 RBIs in 2019 for Princeton of the rookie-level Appalachian League.
Hernandez batted .344 with 11 homers and 48 RBIs in 2019 for the Arizona Rookie League Rangers and was 3-for-8 for Class A Spokane.
Basabe hit .325 with no homers and 31 RBIs in 2019 for the Arizona Rookie League Rangers and was 3-for-10 for Spokane. He made two spring training appearances for Texas this year.
Ovalles batted .377 with two homers and 18 RBIs in 2019 for the Arizona Rookie League Rangers and .187 with two homers and 15 RBIs in 91 at-bats for Spokane. Ovalles was acquired from the Cubs on Aug. 14, 2018, to complete the July 27 trade that sent left-hander Cole Hamels to Chicago.