Slip on spout is loose help !
 

Hi,

I removed my old slip on on spout and saw that the pipe where the spout touched the pipe is worn out (See pic). So when I put back the spout on its original place it leaks near the allen/hex screw when water is turned on (even after I tighten the hex screw). Is there anything I can do to restore the pipe so that spout fit well again.

Thanks

I would either replace the stub out or, sweat on a male adapter at the appropriate length to install a screw on spout.

Either way it does involve sweating copper pipe.

Do these things have an "O" ring to fit over pipe?

Yes there is an O-Ring inside the spout that seals the spout to the stub out...