In this psalm, the psalmist emphasizes God's sovereignty and ownership over His people. Through these words, all people are invited to learn by experience who the Lord is, their Creator and Shepherd. Through His creative right, God owns humanity. Through redemption, however, He has a special responsibility towards believers. In this verse, there is an imagery of a shepherd guiding and protecting those under His care.
In this universe, He is the Mighty Sovereign Ruler and the great Creator of all, who is enthroned above the Cherubim. However, He is also a good and gracious shepherd. When we travel through the valley of the shadow of death, He guides us into the way of righteousness, leads us beside still waters, and restores our souls.
We are given the opportunity to live in a completely different way through Him. It is imperative for those of us who have been saved to recognize that we are His people and sheep. Hence, knowing God and His only son, worshipping Him forever, and announcing His glory to all the world is our duty and responsibility.

Dear Heavenly Father, having You as my Shepherd, my Father, and my Savior means the world to me. Thank You for revealing Yourself to me through the holy Scriptures, the Holy Spirit, and the Person and work of the Lord Jesus Christ, my God and my Savior. As I read Your Holy Word, I pray that they will be implanted within my soul so deeply that nothing will shake me from their truth. Let me demonstrate Your kindness and character to those around me. 
In Jesus's name I pray. Amen.