Charity Callahan gave this compass to Macy Vaughn in "Memento Mori", telling her that it was a summoning compass. It is later revealed that the compass was truly used for surveillance purposes, so that Charity could keep an eye on Macy.
In "Source Material", Mel Vera used the compass in order to track Tessa Flores-Cohen using a tracking ring, so she can lead her to Fiona Callahan and Harry Greenwood. However, Tessa catches on to their scheme and discards the ring into a trash can. Mel and Niko Hamada later find the ring when searching for her with the compass.