Brian, it's very difficult to actually know what you are doing.
One assumes you are using an action which you have created, so therefore it would be your action that is wrong, so you need to do more research on that, and as for putting on a "watermark" why would you?
I am not sure if Light room batch processes, I could be wrong, but I think Photoshop is better to use for this, plus you already have it.
I simply do is copy the watermark to the clipboard as a layer, (select all and copy). Then during the batch process I have a paste operation that will paste it on the photo is the same size and the watermark layer.
It does mean that you have to have a pixel on the other size off you image, so the layer has the height and width, and phase it out a little and no one will know, if you don’t your watermark comes up in the centre of your image, and that is not good.
This does mean you can’t copy and paste during the batch process.
I use this method 3 times a week, every week for website content, so many images, so tried and tested method.
For me I have an action for my watermark and then I batch with tools/photoshop/Image Processor here you can set all you need to batch all the images in one go. Output JPG, TIFF and PSD You can resize and set colour space plus your actions for watermarking. all output into their own folder, leaving your RAW as was. I take it you know and might have a action for watermarking.