As I suspected from the less than 7 pound weight, it's a 1/2 frame gun. Parker didn't start making 12ga 1/2 frame guns until after they were purchased by Remington in response to a demand for a lighter weight 12ga gun. 1/2 frame guns are scarce but not rare and do bring a higher value. There are collectors who collect 1/2 frame guns.
I'm not going to venture a guess as to value but I can tell you that I was talking to Steve Barnett recently about 1/2 frame guns and he told me he sold a VHE with a lot of case colors remaining for $7500. Your mileage may vary!
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