95F1504x4SL

Hello, got a 1995 F150 4X4 with 5.8L 351 Windsor. Recently bought used with 150,000 miles. Engine light has been coming on mostly while accelerating in lower gears but also at times on highway. Tends to go off when foot is taken off accelerator. Engine feels like it sputters while accelerating, not firing on all cylinders? Was told 95 was cutoff for running diagnostics.
Any advice appreciated. Thank you.