"It's such a hard tournament to win, especially from the lead because you know everyone is back there firing at the hole," Cochran said. "The drive on the 18th hole was a big deal because you've made these birdies now, and you don't ever want to give a guy like David Frost another chance.
"He's a tremendous player, one of the best putters and short game guys I've ever seen. He is unbelievable."
Kirk Triplett was third at 14 under after a 68.
Gary Hallberg (66) was fourth at 13 under, and Michael Allen (70) and Anders Forsbrand (69) followed at 11 under. With the top-10 finish, Forsbrand qualified for the Greater Hickory Classic next week at Rock Barn.
Bernhard Langer, the 2012 winner, tied for eighth at 9 under. Langer, two strokes behind Cochran entering the round, had a 73. Charles Schwab Cup points leader Kenny Perry shot a 72 to tie for 11th at 8 under.
With the victory, Cochran moved into sixth place in the Schwab Cup race.