Bean shot a four-under-par 67 for the second consecutive day and Cochran turned in a 68 to finish the day knotted at eight-under 134.
Cochran had three consecutive birdies on the back nine, including a 35-foot putt on a green that was playing treacherous Saturday.
"The greens were lightning out there. I almost three-putted No. 9; that green was really quick," Cochran said.
Jay Haas ended the day in third place at seven under. Tom Kite and Jeff Sluman were tied for fourth.
Two-time defending champion John Cook carded an even-par 71 and was tied for 11th at three-under 139.