In this paper, a single-body point absorber system is analyzed to enhance its power absorption performance. The wave energy converter consists of a single floating body coupled to a direct-drive power takeoff system placed on the seabed. The geometry of a cylindrical buoy with large draft is modified, obtaining a particular geometry that is used to enhance the power absorption of the wave converter at a given site and at a finite depth. A numerical analysis tool (NEMOH) is used to obtain the buoy's frequency-dependent hydrostatic parameters; in addition, the buoy's dimensions are parameterized to tune the natural frequency of the oscillating system toward the frequency of dominant incident waves, thus enhancing wave power absorption for a specific wave frequency range. Furthermore, the damping influence of the power takeoff system on the performance of the wave energy converter is also considered.