Hunter held at a speech (7)
I believe the answer is:
oration
'a speech' is the definition.
(oration is a kind of speech)
'hunter held at' is the wordplay.
'hunter' becomes 'orion' (constellation).
'held' is an insertion indicator.
'orion' enclosing 'at' is 'ORATION'.
(Other definitions for oration that I've seen before include "An eloquent speech" , "Power of speech" , "words" , "Platform speech" , "A formal or ceremonial speech" .)