What makes you think the engine is running hot? The two temperature readings you posted today at 6:04pm suggest everything is fine. That coupled with the dash gauges not showing any indication of trouble makes me think there may not be any issue at all.
Take a look at where the dipstick tube sits in relation to the exhaust manifold, of course the dipstick is going to be HOT, it runs right next to the exhaust manifold. My dipstick has burnt oil residue on it where it passes by the manifold and has been that way for 10 years at least.
96' F150 5.8/E4OD 3.55 SCSB stockish