Hunter bearing towards an address (7)
I believe the answer is:
oration
'an address' is the definition.
(oration is a kind of address)
'hunter bearing towards' is the wordplay.
'hunter' becomes 'orion' (mythical character).
'bearing' is an insertion indicator.
'towards' becomes 'at'.
'orion' placed around 'at' is 'ORATION'.
(Other definitions for oration that I've seen before include "A formal or ceremonial speech" , "Major speech" , "A public or ceremonial speech" , "Making a speech" , "A formal or public speech" .)