The piezo sensor is equivalent to a voltage generator (your desired signal) in series with the device’s capacitance. That capacitance C and the high-resistance load R form a high-pass filter that attenuates frequencies below
fc = 1 / (2 pi R C)
per the usual filter response, which is why you want a large value of R, including the amplifier and bias resistor.
What is your piezo’s capacitance and your lowest frequency of interest?
Thanks Tim. Here is the datasheet for the piezo:
Piezo Material: SM111
Dimensions: Ext. Diam. 26 x Int Diam 22 x Height 13mm
Resonant frequency fr: 42 KHz±1.0 KHz
Electromechanical coupling coefficient Keff: 36 %
Dielectric Loss tg δ: 0.42%
Resonant impedance Zm: ≤4.6Ω
Static capacitance Cs: 6600pF±20%@1kHzTest Condition: 23±3 °C 40~70% R.H.
fr, Zm, Kr => Hoop mode vibration application
Cs tanδ => LCR meter at 1KHz 1Vrms
Based on the math you provided, the low cutoff for this transducer with a 1M resistor is 24Hz which is a much lower freq than the sounds I've been using to troubleshoot the circuit. The lowest freqency I would be looking for would be right around 100 Hz. If it helps, here is a link to the instructables project which I am modeling mine after:
https://www.instructables.com/Lets-Build-Some-World-Class-Hydrophones/The new resistors R3 R4 are replacing the 1 M resistor to ground. In principle a good idea, but likely higher resistance (e.g. 1 M) needed. How much resistance is needed depends on the sensor capacity and frequency range of interest.
Depending on the sensor and signal level expected one may want additional gain at the amplifier. This may have to be for the AC part only. The expected amplitude may be going down towards higher frequency.
For lowest noise one may want some form of AA filter to limit the BW seen by the ADC. This may not be an issue without gain.
R2 may not be needed.
You're absolutely right in that my schematic replaces R1 with R3 and R4. I didn't mean to draw the schematic that way. Instead, it ought to look like this:

If I'm correct, this circuit ought to work. The voltage divider ought to create a virtual ground halfway between 0 and 3.3V. The 1M resistor ought to drive the piezo. Also in this circuit, I have added a feedback circuit, R2 and R5. I've tried many different ratios of R2/R5 as I understand this is how to create gain. None of this has allowed me to read the transducer. :/